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HomeMy WebLinkAboutC12-202 Energy Smart Partners AGREEMENT BETWEEN THE COUNTY OF EAGLE, STATE OF COLORADO AND ENERGY SMART PARTNERS LLC For Administering an Energy Efficiency and Renewable Energy Revolving Loan Fund Program This Agree nt for administering a Revolving Loan Fund ( "Agreement "), made this day of , 2012, by and between the County of Eagle, State of Colorado, a body corporate and politic by and through its Board of County Commissioners ( "County ") and Energy Smart Partners LLC ( "ESP "), a Colorado limited liability company, a wholly owned subsidiary of Funding Partners for Housing Solutions, Inc., a non - profit organization certified by the United States Department of the Treasury CDFI as a community development financial institution ( "CDFI "). WHEREAS, the County, together with sub — awardees, Pitkin County and Gunnison County, Colorado received a grant of funds from the department of energy for, among other programs, the establishment of a Revolving Loan Fund to facilitate construction projects within these counties to make the borrowers' homes more energy efficient, and to create "green" construction jobs; WHEREAS, ESP has special expertise in administering Revolving Fund Loan Programs and is experienced in administering such programs in compliance with the federal and state laws applicable to grant recipients; and WHEREAS, ESP offers its expertise as a cost - effective resource to multiple public and private partners within the state of Colorado to leverage capital with additional capacity to internally isolate, account, and manage independent programs; and, WHEREAS, County desires ESP to administer the Energy Smart Residential Energy Efficiency Loan Fund Program ( "the Program ") and ESP is willing to do so upon the terms set forth herein. AGREEMENT NOW, THEREFORE, in consideration for the monies to be received, the covenants and conditions set forth herein, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties agree as follows: 1. SCOPE OF SERVICES. ESP will provide those services set forth on the attached Exhibit 1. 2. ESP COMPENSATION. For the above described activities, ESP shall receive from the borrowers a onetime non - refundable fee in the amount of $25 which shall be due and 1 9 billable upon submittal of all energy efficiency and renewable energy loans. An additional origination fee in the amount of $125 shall be paid to ESP at the time of loan settlement. ESP shall receive 2% of all interest paid on each of the loans outstanding. Public recording and any other third party service fees are the responsibility of the borrower and shall be assessed by ESP at the time of loan settlement. ESP shall receive a one -time payment equal to $8,500.00 upon execution of this Agreement as compensation related to implementation costs of the Program. 3. TERM OF THE AGREEMENT. The Term of this Agreement shall commence on the date of execution set forth above and continue for a term of five (5) years, provided that the term of this Agreement and all provisions herein shall extend to and cover any additional time period during which ESP remains in control of the County's funds or other assets. The County shall have the right to terminate this Agreement if ESP fails to substantially adhere to the Scope of Services set forth in Exhibit 1, and otherwise in accordance with the terms of this Agreement. ESP shall have the right to terminate this Agreement if the County fails to substantially adhere to its responsibilities set forth in Exhibit 1, and otherwise in accordance with the terms of this Agreement. 4. CONTROL OF FUNDS. In administering funds delivered to ESP by the County in the amount of $985,000, receipt of which is hereby acknowledged by ESP, and funds received by ESP from the Program borrowers, ESP shall be subject to the terms and conditions set forth in this Agreement. Program funds shall be discretely accounted for and maintained as independent of all other funds held for the benefit of itself and others. The County, in its sole discretion, may change Program Criteria by written notice to ESP. All Program funds shall be used and administered only in accordance with the terms of this Agreement. All records and Program documents including promissory notes, security instruments, disclosures, applications, supporting evidence and agreements ( "Loan Documents ") shall remain distinct from other activities of ESP. Program funds and Loan Documents may not be assigned, transferred or encumbered, in whole or in part, without the express written consent of the County. 5. ACTIVITY RESPONSIBILITY AND REPRESENTATIVE. All notices, reports, inquiries, and replies shall be addressed and served upon the respective party representatives at the addresses below. The following individuals are designated for the purposes of this Agreement as representatives of the County and ESP (or their successors or assigns), respectively: 2 COUNTY: Adam Palmer Eagle County Community Development Department P.O. Box 850 Eagle, CO 81631 Tel. 970 - 328 -8770 Email: adam.palmer @eaglecounty.us Eagle County Attorney's Office P.O. Box 850 Eagle, CO 81631 Tel. 970 - 328 -8692 Email: atty @eaglecounty.us ESP: Joe Rowan Energy Smart Partners 214 S. College Avenue Fort Collins, CO 80524 Tel. 970 - 494 -2021 Email: joe @fundingpartners.org The parties may change their representatives at any time by written notice to the other party. 6. INSURANCE. ESP shall maintain in full force and effect commercial general liability insurance, in a comprehensive form, in the amount of at least $1,000,000 per occurrence and $2,000,000 general aggregate at its own expense during the life of this Agreement, which shall afford coverage for all claims for bodily injury, including death, and all claims for destruction or damage to property and personal injury arising out of or in connection with any operations or services performed under this Agreement. ESP shall also maintain fiduciary insurance coverage in an amount not less than $1,000,000 under the terms and conditions set forth hereafter. The County, Pitkin County and Gunnison County shall be additional insureds under these policies, and ESP shall furnish the County's County Attorney's Office with certificates of insurance giving evidence of such coverages and containing a provision that the County shall be given thirty (30) days written notice of cancellation or material change of coverage. These certificates shall be delivered to County within ten (10) days following execution of this Agreement. Additionally, County, upon its written request, shall be given copies of these policies within thirty (30) days of such requests. 3 7. WORKERS' COMPENSATION INSURANCE. ESP shall maintain in full force and effect Worker's Compensation Insurance and Unemployment Compensation Insurance with the Colorado statutory limits at its own expense and as required by law. The Recipient shall also procure and maintain Employer's Liability coverage for at least $100,000 each accident, $500,000 disease policy limit, and $100,000 disease coverage for each employee. All volunteers used by ESP in the performance of this Agreement must be covered under ESP's Worker's Compensation Insurance or covered under a Medical, Accident, Death or Dismemberment Policy with limits of not less than $25,000. ESP shall furnish the County's County Attorney's Office with certificates of insurance giving evidence of such coverages and containing a provision that the County shall be given thirty (30) days written notice of cancellation or material change of coverage. The certificates shall be filed within ten (10) days following execution of this Agreement. 8. INDEPENDENT CONTRACTOR. In performing this Agreement, ESP acts as an independent contractor responsible for calculating, withholding, and paying all federal and state taxes and for obtaining necessary and adequate workers' compensation insurance, general liability insurance and any other insurance required under this Agreement. ESP employees are not and shall not become employees, agents or servants of the County hereunder. ESP and ESP employees are not entitled to unemployment insurance benefits from the County. ESP is obligated to pay Federal and State income tax on any monies paid pursuant to this Agreement. Further, ESP acknowledges that the County is not involved in the administration of the Program in any manner including, but not limited to, selection of Program Contractors, loan approvals and closings, compliance with State of Colorado and federal laws governing the Program's lending practices, loan collections, and oversight of construction projects funded by the Program. In this regard, the County's only involvement in the conduct of the Program shall be to provide oversight of the administration of the Program to ensure compliance with the terms of the DOE Award described below. 9. INDEMNIFICATION. ESP shall indemnify and hold harmless the County, Pitkin County, Gunnison County (collectively "the Counties ") and their respective Board of Commissioners, and the individual members thereof, its agencies, departments, officers, agents, employees, servants and its successors from any and all demands, losses, liabilities, claims or judgments, together with all costs and expenses, including but not limited to attorney fees, incident thereto which may accrue against, be charges to or be recoverable from the Counties, their respective Board of Commissioners, and the individual members thereof, its agencies, departments, officers, agents, employees, servants and its successors, as a result of the acts or omissions of ESP its employees, subcontractors, or agents, in or in part pursuant to this Agreement or arising directly or indirectly out of ESP's exercise of its privileges or performance of its obligations under this Agreement. This indemnification shall survive completion of the Scope of Services 4 and termination of this Agreement. Nothing herein shall be construed as a waiver of defenses or immunities available to the County under the Governmental Immunity Act. 10. COMPLIANCE WITH THE TERMS AND CONDITIONS OF THE DOE AWARD, LOCAL, STATE AND FEDERAL LAWS. ESP specifically agrees to provide its services described herein in accordance with all local, state and federal laws governing the activities described in this Agreement as its Scope of Services. Likewise, it agrees that its services shall be, at all times, in compliance with those Program requirements set forth in the United States Department of Energy Award No. DE- EE0003798 having an effective date of August 12, 2010 ( "the DOE Award "), which requirements ESP affirmatively states it has reviewed and with which it has the capability to comply. A copy of this award is attached hereto as Exhibit 2 and incorporated here by reference. Further, ESP acknowledges that its administration of the funds generated by the DOE Award may be subject to changes in the currently existing regulations. ESP agrees that it shall maintain its compliance with those amended regulations including, but not limited to, a modification of the reporting requirements relating to the Program funds. 11. PERFORMANCE REPORTS AND RECORDS. a. ESP shall prepare and submit to the County monthly a detailed Performance Report no later than fifteen (15) days after the end of each month. Said report shall be as referenced in Exhibit H or in a format approved by the County and shall be directly related to the Scope of Services. The contents of the report shall provide data and information to County to be used for coordinating, monitoring and evaluating the Scope of Services to its completion. Failure to submit these reports shall constitute a material breach of this Agreement. b. ESP, or its parent organization, shall provide County a copy of its annual report with its audited financial statement compliant with 10 CFR 600.316 within thirty (30) days after it is completed. c. ESP shall maintain records of funds received and disbursed, correspondence, loan applications, loans funded, promissory notes, security instruments, payment histories and such other records for the duration of this Agreement, and for such longer time as may be required by the County. In no event shall such records be destroyed or discarded prior to their being tendered to County upon the termination of this Agreement or as may be agreed otherwise, in writing, between the parties. County and , if applicable, state and federal auditors, shall have access to those records, with or without notice, in accordance with the award, contracts and other agreements and in accordance with laws, rules and regulations applicable to them. 5 d. ESP shall provide County with such reports as required by the DOE award to be submitted by the County to maintain its compliance with the terms and conditions of that award. 12. TERMINATION. a. TERMINATION FOR CAUSE BY COUNTY. If, for any reason, ESP shall fail to substantially perform the work required by the Scope of Services under this Agreement or fails to ensure the performance of, by legal means if necessary, the work called for herein with such diligence as will ensure its completion, or materially fails to comply with any of the terms, conditions, or other provisions of this Agreement which shall constitute a violation or breach of this Agreement, and shall fail to cure the default within fifteen (15) days following written notice thereof by the County, the County may terminate this Agreement by giving written notice to ESP. In addition to the other remedies available to it, in the event the County terminates this Agreement due to ESP's failure to cure any default as provided hereinabove or due to ESP's breach of or violation of any covenant, agreement or assurance herein, the County retains the right and may, at its option, make written demand for the delivery of, and ESP shall immediately upon receipt of such written demand of the County: (a) transfer to a County designated third party all sums received by ESP from the County under this Agreement as of the date of said demand, net of loan disbursements pursuant to this Agreement, plus interest thereon at the legal rate; (b) all Loan Documents, and all other documentation relating to the administration of the Program; (c) all expenses incurred by the County, including reasonable attorney's fees incurred in recovering said sums and records. b. TERMINATION FOR CAUSE BY ESP. If, for any reason, County shall fail to substantially perform any obligation required of it by this Agreement, or fails to ensure the performance of, by legal means if necessary, the work called herein with such diligence as will ensure its completion, or materially fails to comply with any of the terms, conditions, or other provisions of this Agreement which shall constitute a violation or breach of this Agreement, and shall fail to cure the default within fifteen (15) days following written notice thereof by ESP, then ESP may terminate this Agreement by giving written notice to County. In addition to the other remedies available to it, in the event ESP terminates this Agreement due to County's failure to cure any default as provided hereinabove or due to County's breach or violation of any covenant, agreement or assurance herein, ESP is entitled to recover all expenses incurred by it as a result of the violation, including reasonable attorney's fees incurred in enforcing its rights under this Agreement. 6 c. TERMINATION FOR THE CONVENIENCE OF THE COUNTY. This Agreement may be terminated by the County at any time in advance of the end of the Term of this Agreement. In such event, the County shall give written notice thereof to ESP and ESP shall be paid for the documented direct and incidental termination expenses due to the termination as are mutually agreed upon by both parties and in an amount not to exceed Two Thousand Dollars ($2,000.00). ESP agrees to assist the County in facilitating the transfer of the administration of the Program d. TERMINATION FOR THE CONVENIENCE OF ESP. ESP may terminate this Agreement at any time in advance of end of the Term of this Agreement with the consent of the County. ESP shall give the County written notice of any such termination at least one - hundred eighty (180) days in advance of the effective date thereof and shall state in the notice the reason or reasons for the termination and the effective date of termination. ESP shall neither be paid nor be considered eligible for payment of termination expenses, incidental, direct or consequential costs or damages or loss of profits due to the termination. e. RECORDS. Upon any termination of this Agreement in advance of its expiration date, all Loan Documents, reports, bank statements, correspondence and any other material accumulated by ESP in the administration of the Program shall be delivered immediately to the County in their state of preparation at the time of termination subject to the provisions of any termination agreement or order providing otherwise. ESP shall also immediately notify the County of all pending loans or other commitments of ESP which shall be outstanding on the termination date and shall take such action with respect thereto as the parties hereto shall mutually determine. No termination hereunder shall relieve ESP of its responsibilities to maintain Scope of Services records in accordance with this Agreement. f. TRANSFER OF FUNDS. Upon the termination of this Agreement, ESP shall transfer to the designee of the County all funds, promissory notes, accounts receivable, and deeds of trust attributable to the program on hand at the time of termination. Additionally, upon written instruction from the County, ESP agrees to return to the County such funds from the Revolving Loan Fund as the County designates for its use, which use shall be consistent with the terms of the DOE Award g. CLOSE -OUTS. ESP's obligations to the County shall not end until all close -out requirements are completed. Activities during this close -out period shall include, but are not limited to: making final payments, the transfer of program assets (including the transfer of all unused materials, equipment, unspent cash 7 advances, notes, deed of trust, security, program income balances, copies of transferred records, and receivable accounts) to the County's designee upon close -out or upon the County's request, and determining the custodianship of records. 13. AMENDMENTS. a. Either party to this Agreement may request Amendments to this Agreement at any time, but no change shall be binding unless it is mutually agreed upon by the parties to this Agreement. All Amendments shall be in writing and signed by the parties. b. Any change in or new federal, state or local law, rule affecting the Program or other regulation under which this Scope of Services is to be performed which may constitutionally be applied to the Scope of Services set forth herein and which, by its terms, is intended to be applied to this Scope of Services, shall be deemed to be incorporated into this Agreement. c. Prior to ESP's acceptance of contributions to the Program fund, the County and ESP agree to amend this agreement to provide for those funds accounting and distribution upon termination of this Agreement. 14. INTEGRATED DOCUMENT. This Agreement including all exhibits embodies the entire understanding between the County and ESP for the Scope of Services and their terms and conditions. No verbal agreements or conversation with any officer, agent or employee of the County or ESP prior to or subsequent to the execution of this Agreement shall affect or modify any of the terms or obligations contained in any documents comprising this Agreement. 15. ASSIGNABILITY. ESP may subcontract the performance under this Agreement in whole or in part; however, the responsibility for the performance of this Agreement shall not be assigned or transferred by ESP without the prior written consent of the County, which County may grant or withhold in its sole discretion. The County, for its part, shall be entitled to assign its rights, in whole or in part, in this Agreement upon written notice of such assignment to ESP. Additionally, the County shall have the right, at its election, to join Pitkin County and Gunnison County as additional participants and co- obligors under this agreement. 16. SUCCESSORS. ESP and the County covenant that the provisions of this Agreement shall be binding upon its heirs, successors, subcontractors, representatives, and agents. 8 17. INCORPORATION BY REFERENCE. All of the parts of this Agreement and those which may become properly appended hereto, and all applicable federal, state, and local laws, rules, regulations, circulars, Executive Orders pertaining to the Program and this Scope of Services, and any other document referenced for incorporation are incorporated herein by this reference. 18. SEVERABILITY CLAUSE. The declaration by any court or other binding legal authority that any provision of this contract is illegal and void shall not affect the legality and enforceability of any other provision of this contact unless said provisions are mutually dependent. 19. CUSTOMER SERVICE. In rendering its services, ESP shall comply with the highest standards of customer service to the public. ESP shall provide appropriate supervision of its employees to ensure the maintenance of these high standards of customer service and professionalism, the performance of such obligation to be determined at the sole discretion of the County. 20. TABOR COMPLIANCE. In the event the Program should at any time be determined to be subject to TABOR, ESP agrees, to the fullest extent possible, to assist the County in maintaining compliance with its terms. 21. THIRD PARTY BENEFICIARIES. This Agreement does not, and shall not be deemed or construed to, confer upon or grant to any third party or parties any right to claim damages or to bring any suit, action or other proceeding against either ESP or the County because of any breach hereof or because of any of the terms, covenants, agreements and conditions here 22. GOVERNING LAW. This Agreement shall be governed by the laws of the State of Colorado. Jurisdiction and venue for any suit, right or cause of action arising under, or in connection with this Agreement shall be exclusively in Eagle County, Colorado. IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed on the date first set forth above. 9 i ENERGY SMART PARTNERS, LLC, a Colorado limited 'ability company By•'/ Joe Rowan, Executive Director Funding Partners for Housing Solutions, Inc. As its Member /Manager STATE OF COLORADO ) ) ss. COUNTY OF d ,t1ALA — ) On this S day of 2012, came before me known to me, and acknowledged to me that he /she ha executed the within contract acting in his/her capacity as Executive Director of Funding Partners for Housing Solutions, Inc. as Member/Manager of Energy Smart Partners, LLC and the same was the act of that company. WITNESS my hand and official seal. My Commission expires: Connie F. Maley Notary Public of Colorado Commission Expires 1/4/0 ow' Notary Public ATTEST: EAGLE COUNTY • ii:G b its BOARD • •U■ r.` I ' ONERS �A ■M7.4#,„/, Clerk to the Board @moo * 1;y: Peter F. unyon, Chairman 10 • • Exhibit 1: Scope of Services • Application: ESP shall solicit and receive completed residential loan applications from contractors from the Energy Smart Residential Energy Efficiency Revolving Loan Fund Program ( "Program ") contractor list or borrowers, the Authorization to Release Information and supporting documentation shown on the attached Loan File Checklist. A credit report and processing fee of $25 shall be due ESP at time of the loan application, collected by the general contractor and remitted to ESP within a reasonable timeframe. Applicants are eligible to finance up to 100% of ro'ect and settlement costs subject to loan amount ' p J J limitations noted below Processing: ESP shall order third party verifications, including credit report(s), the property owner and encumbrances report and evidence of hazard insurance (as applicable). Under normal circumstances, a contractor or a borrower can expect a loan commitment to be returned to the applicant within 4 hours or less during normal business hours. Applications submitted after 2:OOpm will be processed the following business day. Confirmation of credit determination, loan terms and remaining documentation requirements, as applicable, will be delivered in electronic format to the applicant for review and acceptance. Pre - Settlement: ESP shall order evidence of insurances and documentation of all payments due upon closing, as applicable. Final loan documentation shall be prepared and • delivered to the project contractor for presentation to borrower. Loan documents shall include a lien waiver affidavit wherein the borrower must acknowledge the amount paid to the project contractor upon loan settlement. The project contractor shall acknowledge that all work is or will be completed • according to local standards and in a good and workmanlike fashion within the agreed upon timeframe. The Project contractor shall verify that all suppliers and/or subcontractors for the project are paid in full with no further recourse to the borrower, and furnish lien waivers to that effect. Fees Collected: Application ($25) fee shall be collected at the time of the submission of the Application, Origination ($125), public recording and other third party fees shall be assessed and collected at time of settlement, as detailed within a settlement statement prepared by ESP. Distribution of loan proceeds shall be net of loan settlement fees. Requirements: As facilitator, the project contractor will be asked to present all loan documents at the time of loan settlement. If the loan is secured by a subordinated deed of trust, each Borrower must acknowledge receipt of a standard Colorado Notice of Rescission, allowing cancellation of the mortgage within 3 business days of settlement. The deed of trust must be signed in the presence of a notary public, which will be arranged between ESP, the contractor and borrower as applicable. Settlement: Project contractor will be asked to facilitate delivery of the executed promissory note, a Deed of Trust (if applicable), and any other instruments evidencing the debt undertaken to ESP within 48 hours of settlement. Upon receipt and acceptance of executed documents as well as lien waivers from the contractor and, if applicable, subcontractors ( "the Loan Documents "), ESP shall release loan proceeds, less its own fees, directly to project contractor upon confirmation that all work is complete. Dependent upon the scope of the proposed project, ESP may elect to disburse funds incrementally and may allow payment directly to the borrower if so opted. Execution of a release of lien affidavit shall be • a required prior to each distribution of loan proceeds. No changes to the Loan Documents or loan amount shown on the settlement statement are permitted without prior ESP authorization. Disbursement of funds is prohibited prior to expiration of the rescission period. • • Post Closing: As set forth within its Compliance & Loan Servicing Standards, ESP shall retain 41) all original documents and the permanent loan file, record property liens and UCC filings as necessary, process and issue subsequent project draw requests, and issue release of collateral obligations upon final satisfaction of the Note. All loan servicing functions, portfolio monitoring, and compliance reporting functions shall be performed by ESP and delivered to the County's Program administrator at least quarterly. Such reports shall be delivered within a format acceptable to the Program administrator and contain sufficient detail to satisfy all requirements of program funding sources. Borrower loan qualifications: In order to obtain a loan from ESP under the program, a borrower shall meet the following requirements: Credit Metrics Tier 1 Tier 2 Tier 3 Minimum FICO (Credit • 700 if salaried (or • 640 if salaried (or • 580 if salaried, no Score) fixed income) fixed income) self employment • Each borrower must • 720 if self - employed • 680 if self - employed have a minimum less than 2 years more than 2 years FICO • If there are multiple borrowers, the lower the score (regardless of income) must be used for qualification Bankruptcy, None in the last 7 years None in the last 5 years None in the last 2 years Foreclosure, Repossession • Unpaid Collection No more than $2,500 No more than $2500 No more than $2,500 Accounts, Judgments, total total total Tax Liens Loan Amounts Up to $25,000 Up to $10,000 Up to $7,500 Note: Loan amounts in excess of $15,000 will require a grant of a subordinated security interest in the subject real property. The proposed loan, combined with all other outstanding loans secured by the subject property shall not exceed 115% of the most recent assessment value, as determined by the County Assessor. In such instance, all owners of record to the subject property shall be obligated to the proposed financing. Interest Rate Schedule Tier FICO > 60 84 120 _ Yield 1 700 3.75% 4.75% 6.25% 2.00% 2 640 4.75% 5.75% 7.25% 2.00% 3 580 6.75% 8.50% - 2.00% ESP Yield is subtracted from interest payments received from borrowers with residual balance returned to the fund. Income Verification Requirements Salaried Employees, Pension, SSI Income, etc. Self Employed - Stated Income (No Verification Required) Stated Income (No Verification Required) • When the loan amount is less than $4,000 • When the loan amount is less than $4,000 • And when the FICO is greater than 700 • And when the FICO is greater than 720 Income Verification Required Income Verification Required • • When the loan amount is greater than $4,000 • When the loan amount is greater than $4,000 • And the FICO is less than 700 • And the FICO is less than 720 • One pay stub with YTD earnings dated within 30 • Most recent federal income tax return (first 2 days of the application or award /benefit letter for pages of 1040) plus Schedule C if applicable. • • SS or pension showing income amount, Rental income verified by lease or Schedule E III payment frequency and start and end dates. from tax return. Rental income verified by lease or Schedule E from tax return. NOTE: Any "other" income (not primary income), which is being used to qualify the loan, must be NOTE: Any "other" income (not primary income), verified. which is being used to qualify the loan, must be verified. Debt to Income ( "DTI ") Ratio Requirements Debt to Income Ratio Tier 1 Tier 2 Tier 3 Total Monthly Obligations Total monthly Total monthly Total monthly • Any loan which has a remaining term of less than 6 obligations to obligations to obligations to months may be excluded from the calculation total monthly total monthly total monthly • When revolving accounts do not show a minimum income. income. income. payment use the greater of 1°/0 per month or $10 All qualifying All qualifying All qualifying • Real Estate taxes and homeowners insurance (if not FICO scores FICO scores — FICO scores — included in the mortgage payment) must be included in — 50% 45% 36% ratio • Additions to the Borrower's cash flow from energy improvements may be considered at the underwriter's discretion Loan File Checklist • One paystub with Year to Date earnings dated within 30 days of application. • Award or Benefit letter for Social Security or Pension income showing income amount, payment frequency and start and end dates. ■ 2 years fax returns with all schedules for self employed borrowers. • Rental income verified by lease or Schedule E from tax returns. • Any other income which is used to qualify for the loan must be verified. To facilitate the performance of its obligations under the Agreement and administration of the Program, ESP agrees to utilize the attached loan policies, procedures and forms: 1. Exhibit A., EnergySmart Revolving Loan Fund Compliance and Loan Servicing Standards; 2. Exhibit B., EnergySmart Residential Energy Efficiency Revolving Loan Fund Contractor Agreement; 3. Exhibit C., EnergySmart Residential Energy Efficiency Program Homeowner Statement of Understanding; 4. Exhibit D., Loan Application; 5. Exhibit E., Promissory Note (unsecured); 6. Exhibit F., Promissory Note (secured); 7. Exhibit G., Deed of Trust; 8. Exhibit H. Monthly Operating Report Form; 9. Exhibit I. DOE Reporting Foiiii. 10. Exhibit J. List of Permitted Improvements These policies, procedures and forms may be amended from time to time by the III mutual consent of the parties, which consent shall not be unreasonably withheld. • ASSISTANCE AGREEMENT 1 A rd No. 2. Modification No. 3. Effective Date 4. CFDA No. 003798 08/12/2010 81.128 Awarded To 3. Sponsoring Office 7 Period of Performance fkGLE, COUNTY OF Golden Field Office 08/12/2010 ttn: Adam Palmer U.S. Department of Energy through .0. BOX 850 08/11/2013 Golden. Field Office 51 BROADWAY 1617 Cole Blvd. PiGLE CO 816310850 Golden CO 80401 Type of Agreement 9. Authority 10. Purchase Request or Funding Document No. Grant PL 110 -140, EISA 2007 10EE006555 ] Cooperative Agreement PL 111 -5, Recovery Act 2009 ] Other 1. Remittance Address 12. Total Amount 13. Funds Obligated f1GLE, COUNTY OF Govt. Share: $4,916,126.00 This action: $4,916,126.00 ttn: Adam Palmer O. BOX 850 Cost Share : $0.00 Total : $4,916,126.00 51 BROADWAY AGLE CO 816310850 Total : $4,916,126.00 L pal Investigator 15. Program Manager 16. Administrator d almer Carolyn C. Elam Golden Field Office 70- 328 -8734 Phone: 303 - 275 -4953 U.S. Department of Energy Golden Field Office 1617 Cole Blvd. Golden CO 80401 -3393 Submit Payment Requests To 18. Paying Office 19. Submit Reports To OR for Golden See Attachment #3 U.S. Department of Energy Oak Ridge Financial Service Center P.O. Box 4517 Oak Ridge TN 37831 . Accounting and Appropriation Data ',CBG Temp . Research Title and /or Description of Project :COVERY ACT: EECBG: RESORT COMMUNITIES RETROFIT PROGRAM For the Recipient For the United States of America Signature of Person Authorized to Sign 25. Signature of Grants /Agreements Officer Signature on File ond Title 24. Date Signed 26. Name of Officer 27. Date Signed Karen L. Bahan 08/12/2010 • • REFERENCE NO. OF DOCUMENT BEING CONTINUED PAGE OF ONTINUATION SHEET DE EE0003798 2 I 2 4ME OF OFFEROR OR CONTRACTOR kGLE, COUNTY OF EM NO. SUPPLIES /SERVICES QUANTITY UNIT UNIT PRICE AMOUNT (A) _ (B) (C) (D) (E) (F) DUNS Number: 084024447 In addition to this Assistance Agreement, this award consists of the items listed in the Special Terms and Conditions, Provision 2, "Award Agreement T =rms and Conditions." DOE Award Aiministrator: Yolanda Ramirez E -mail: yolrnda.ramirez @go.doe.gov Phone: 303 - 275 -4908 DOE Project Officer: Carolyn Elam E -mail: carDlyn.elam @go.doe.gov Phone: 303 - ?75 -4953 Recipient Contact: Adam Palmer E -mail: adari.palmer @eaglecounty.us Phone: 970 - 328 -8734 Recipient Principal Investigator: Adam Palmer E -mail: ada .palmer @eaglecounty.us Phone: 970 -.28 -8734 Electronic .ignature or signatures as used in 4111 this docume��t means a method of signing an electronic essage that- - (A) Identif es and authenticates a particular person as t e source of the electronic message; (B) Indicat:s such person's approval of the information contained in the electronic message; and, (C) Submiss on via FedConnect constitutes electronica ly signed documents. ASAP: YES E tent Competed: COMPETED Davis -Bacon Act: YES Fund: 05796 Appr Year: 2009 Allottee: 31 Report Entity: 200:35 Object Class: 41020 Program: 1005287 Pro ect: 2004350 WFO: 0000000 Local Use: 0000000 TAS Agency: 89 TAS Account: 0331 1111 JULY 2004 • • DE- EE0003798/000 • Attachment #1 Intellectual Property Provisions (NRD -1003) Nonresearch and Development Nonprofit organizations are subject to the intellectual property requirements at 10 CFR 600.136(a), (c) and (d). All other organizations are subject to the intellectual property requirements at 10 CFR 600.136(a) and (c). 600.136 Intangible property. (a) Recipients may copyright any work that is subject to copyright and was developed, or for which ownership was purchased, under an award. DOE reserves a royalty -free, nonexclusive and irrevocable right to reproduce, publish or otherwise use the work for Federal purposes, and to authorize others to do so. (b) DOE has the right to: (1) Obtain, reproduce, publish or otherwise use the data first produced under an award; and • (2) Authorize others to receive, reproduce, publish, or otherwise use such data for Federal purposes. (c) In addition, in response to a Freedom of Information act (FOIA) request for research data relating to published research findings produced under an award that • were used by the Federal Government in developing an agency action that has the force and effect of law, the DOE shall request, and the recipient shall provide, within a reasonable time, the research data so that they can be made available to the public through the procedures established under the FOIA. If the DOE obtains the research data solely in response to a FOIA request, the agency may charge the requester a reasonable fee equaling the full incremental cost of obtaining the research data. This fee should reflect the costs incurred by the agency, the recipient, and applicable subrecipients. This fee is in addition to any fees the agency may assess under the FOIA (5 U.S.C. 552(a)(4)(A)). • • • Eagle County, CO • DE- EE0003798 /000 STATEMENT OF PROJECT OBJECTIVES Eagle County, CO EECBG: Resort Communities Retrofit Program: Removing Barriers to Energy Efficiency through Education, Audits, Innovative Financing, and Measurement to create a sustainable residential retrofit market A. PROJECT OBJECTIVES The objective of the Resort Communities Retrofit Program is to improve the energy efficiency of 10 %, or 5400 homes in Eagle, Pitkin, and Gunnison Counties by 20 %, utilizing energy audits, resource centers, innovative financing options, workforce training, and comprehensive results calculations. B. PROJECT SCOPE The project scope includes 3 primary areas: 1. Access to Information: The Program will establish one Energy Resource Center (ERC) in each county to promote the program and provide comprehensive participation assistance. The ERCs will help owners take advantage of energy audit incentives and available • rebates, connect them with qualified contractors, provide feedback on potential improvements, provide available financing information, and follow up evaluation. Using a data management service, the energy use of participating homes will be tracked to calculate actual cost savings by house type, size, construction type and date, and specific retrofit measures and provide a comprehensive analysis of the program's results. 2. Access to Financing: The Program provides homeowners with four different financing options: Rebates for energy audits and efficiency improvements, including no -cost "quick fix" kits, an on -bill pay revolving loan fund for improvements up to $3,000, Program Acquisition Cost Estimate PACE -style financing through each County's Energy Smart Program for improvements of $3,000 to $30,000 and, Energy Performance Contracts for selected affordable housing rental properties and free - market multi - family condominium complexes. 3. Access to Skilled Workforce: The Program will provide contractor workshops and tuition assistance for both retooling traditional blue - collar construction trades, as well as emerging green - collar technical trades. Also, home diagnostic kits and equipment will be made available to local contractors/homeowners. • 1 • • Eagle County, CO DE- EE0003798/000 410 C. TASKS TO BE PERFORMED Scope 1. Access to Information The Pr..gram will eliminate existing barriers to information on energy efficiency and renewable energy as it pertains to human behaviors, home purchasing decisions, and home energy improvements, including costs and expected paybacks. Task 1 0 Set up comprehensive educational and information system (months 1 -10) Subtask 1.1 Establish Energy Resource Centers An Energy Resource Center (ERC) will be established in Eagle, Pitkin, and Gunnison Counties to help homeowners wade through all of the complicated information regarding home energy improvements, including costs, financing, paybacks, rebates, incentives, contractor bids, etc. Each ERC will be staffed with expert energy advisors to assist homeowners throughout the process of first getting an energy audit, identifying feasible efficiency improvements and analyzing possible financing options. Subtask 1.2 Standardize marketing approach The Program will hire dedicated personnel to standardize marketing strategy, look and message across each ERC and used by each County program administrator. Marketing materials will be provided in various templates so that each ERC can customize according to targeted group or event. Each ERC will be responsible for tracking the marketing strategy according to the success of events and advertising. III ubtask 1.3 Establish a data management system e Program will hire a subcontractor to implement a comprehensive data tracking platfo to track the success of the Program. The platform will allow local utilities to analyze energy onsumption according to weather patterns, square footage, spatial distribution and greenh use gas intensity. Homeowners that utilize the ERC or participate in the Program will be encour ed to sign data release forms so that utilities may share aggregated energy consumption data wi h the Program Taskforce and each ERC. Access to this information will help dictate how th marketing strategy targets consumers and how the Program morphs according to energy savings realized. Subtask 1.4 Launch Energy Smart marketing campaign Each ERC will be responsible for organizing homeowner events to market Energy Smart. These et'ents include educational workshops and events that instruct homeowners on the basics of residential energy use and local financing options available. Task 2.1 Tar. et educational a. •roach months 11 -29 ubtask 2.1 Conduct analysis of the marketing strategy he Program Taskforce will meet with ERC administrators to conduct an in -depth analysis of the marketing strategy. Marketing will be judged on number of households reached and the evel of success achieved through each media source. The success of the marketing strategy will also be checked according to the level of energy savings realized. III • 2 • • Eagle County, CO • DE- EE0003798/000 Subtask 2.2 Conduct analysis of ERC effectiveness The Program Taskforce will evaluate each ERC based on progress reports, energy savings realized and local feedback. Taskforce representatives will be responsible for meeting with their respective ERC to evaluate their work and plan for ramped up educational efforts. Subtask 2.3 Ramp up specific marketing events Each ERC will ramp up targeted marketing efforts (according to the results of the analysis). ERCs will host energy auditing events, neighborhood competitions and home energy workshops. Several of these events will directly target second homeowner residences, affordable housing and the renter's market. Task 3.0 Assess Program (months 30 -36) Sub -task 3.1 Finalize reports and analysis Each Program Manager will work with their respective ERC to produce a summary of the Program's educational and outreach effort, including an assessment of the data management platform and the marketing strategy. The reports will be used to direct continuation of Program activities after the funding period ends. Scope 2. Access to Financing The Program improves residential access to financing by consolidating a set of tiered programs 1111) tailored to distinct consumer types, with emphasis on PACE financing through the Energy Smart Program. Task 1.0 Establish financing options (months 1 -10) Subtask 1.1 Develop quick -fix kits The Program will work with a sub - contractor to develop inexpensive but effective quick fix kits. Each kit has energy efficiency tools, such as a tube of caulk and weather stripping, which an energy auditor may install at the time of audit. Kits will be distributed to homeowners through each County's respective ERC. Subtask 1.2 Develop comprehensive rebate structure The Program will work with local utilities and governments to structure a consumer friendly and cost effective rebate program. Current rebate offers will be supplemented with funds from the Retrofit Program. Subtask 1.3 Establish revolving loan fund Program Managers will work with local utilities and jurisdictions to develop an on -bill pay program for rental properties in need of a loan up to $3,000. The on -bill program will be facilitated by the regional utilities with support by Program Managers. Subtask 1.4 Facilitate Energy Smart Program The Program Managers will facilitate PACE financing through the Energy Smart Program. Assessments may not exceed 10% of the property value. • 3 • 9 Eagle County, CO DE- EE0003798/000 • Subtask 1.5 Coordinate financing offers with ERC educational efforts Program Taskforce and ERCs will coordinate to ensure financing is available as outreach programs are launched. Each Program Manager will be responsible for disseminating information to their respective ERC. Task 2.0 Target financing programs and change, as needed (months 11 -29) ubtask 2.1 Conduct analysis of each financing option he Program Taskforce will use the data management platform to assess each financing piece a cording to cost effectiveness, energy saved and number of participants. This information will di ct how and if any of the financing funds shift or how to better develop markets for certain ptions. ubtask 2.2 Facilitate Energy Performance Contracts he Program Managers will advertise the availability of funds for technical energy grade audits rough an Energy Service Company (ESCO) for one affordable housing and one second homeo ner condominium complex in each county. The Program Taskforce will select eligible candidates and help facilitate performance contracts for each. The Program will finance the payme t of the energy audit with a revolving loan fund. The Program will be paid back through the Pe •rmance Contract. Task 3.1 Assess Pro_ am months 30 -36 III . ub -task 3.1 Finalize reports and analysis 1 he Program Taskforce will meet with utilities and ERC administrators to assess the effectiv • ness of each financing option. The taskforce will produce a summary of the group's finding , which will be used to direct continuation of financing activities after the funding period ends. Scope ' Access to Skilled Workers Skilled orkers need minimal retraining to become green contractors. The Program provides distinct aining and funding opportunities to the local workforce. The Program also provides diagnostic auditing tools in order to facilitate expansion of auditing services in each County and enhanc consumer education. Task 1. Launch programs to support the green workforce (months 1 -10) ubtask 1.1 Purchase diagnostic auditing equipment The Program Taskforce will subcontract the purchase of four sets of auditing equipment. Each E C will be responsible for setting up a system so that energy auditors may rent the equipm nt. The equipment will also be used as educational tools in various ERC events and demons ations. III 4 • Eagle County, CO • DE- EE0003798/000 Subtask 1.2 Facilitate a regional beyond -code seminar The Program Taskforce will gather stakeholders, government officials, and industry leaders once a year to discuss updates to climate and energy action plans, building codes, and land use policies. The purpose of the seminars is to facilitate policy decisions that support the extension and /or expansion of the Program past the funding period. Subtask 1.3 Establish tuition assistance program Local contractors will be eligible for tuition assistance for professionally accredited green training courses. The Program will offer two to three rounds of tuition assistance requests per year. Contractors that receive tuition assistance will be encouraged to work with their local ERC to market their services and network with other industry professionals. Subtask 1.4 Facilitate best practices workshops Each ERC will be responsible for organizing best practices workshops for local contractors and industry professionals. Workshops will be organized in collaboration with Colorado Community College in Eagle and Pitkin and Western State College in Gunnison. Task 2.0 Continue support programs, modify as needed (months 11 -29) Subtask 2.1 Conduct analysis of each program Each program will be tracked according to number of participants, skills learned or adopted and jobs created. All participants will be required to provide contact information so that • the Program Taskforce may follow up in six months, eighteen months and thirty six months. Task 3.0 Assess Program (months 30 -36) Sub -task 3.1 Finalize reports and analysis The Program Taskforce will meet with local community colleges, workshop facilitators, contractors and ERC administrators to assess the effectiveness of the workforce program. The Program Taskforce will produce a summary of the group's findings, which will be used to direct continuation of support activities after the funding period ends. Scope 4. Project Management and Reporting Task 1.0 Project management Project will be managed by Eagle County and a taskforce made up of representatives from each county. The county representatives will be responsible for disseminating information to their local partners, including government and each ERC non - profit. Information will be shared with the utilities at the regional level. Lastly, the Program Taskforce will be responsible for helping local entities strategize and finalize funding sources for the continuation of the Program past the funding period. These meetings will begin in the Program's second year. Task 2.0 Project reporting Reports and other deliverables will be provided in accordance with the Federal Assistance Reporting Checklist following the instructions included therein. • 5 • • DOE F 4600.2 U.S. Department of Energy DE- EE0003798/000 los /zoe FEDERAL ASSISTANCE REPORTING CHECKLI Attachment #3 • All Other Editions Are Obsolete AND INSTRUCTIONS 1. Identification Number: 2. Program/Project Title: DE- EE0003798/000 EECBG: Resort Communities Retrofit Program: Removing Barriers to Energy Efficiency through Education, Audits, Innovative Financing, and Measurement to create a sustainable residential retrofit market 3. Recipient: Eagle County, CO 4. Reporting Requirements Frequency No. of Copies Addressees A. MANAGEMENT REPORTING ® Progress Report QM Upload 1 copy to the address in the next column WWW.PAGE.ENERGY.GOV See Note 1 ® Special Status Report A Electronic Version See Note 2 B. SCIENTIFIC/TECHNICAL REPORTING (Reports/Products must be submitted with appropriate DOE F 241. The 241 forms are available at www.osti.gov /elink.) Report/Product Form ❑ Final Scientific/Technical Report DOE F 241.3 ❑ Conference papers /proceedings* DOE F 241.3 ❑ Software/Manual DOE F 241.4 ❑ Other (see special instructions) DOE F 241.3 * Scientific and technical conferences only C. FINANCIAL REPORTING 410 ® S - 4 25, Financial Status Report Q F Electronic Version WWW.PAGE.ENERGY.GOV ® Leveraged Funding Report A See Note 3 D. CLOSEOUT REPORTING ❑ Patent Certification ® Property Certification F TBD ❑ Other E. OTHER REPORTING ❑ Annual Indirect Cost Proposal A WWW.FEDERALREPORTING ❑ Annual Inventory of Federally Owned Property, if any GOV ® Other -See Section 5 below: FREQUENCY CODES AND DUE DATES: A - Within 5 calendar days after events or as needed. S - Semiannually; within 30 days after end of reporting period. F - Final; 90 calendar days after expiration or termination of the award. Q - Quarterly; within 30 days after end of the reporting period. Y - Yearly; 90 days after the end of the reporting period. M- Monthly, within 30 days after the end of the reporting period. 5. Special Instructions: Forms are available at https://www.eere-pmc.energy.gov/forms.aspx. 1. The Monthly EECBG Progress Report will be due on the 30 of the month following the month for which data is being reported. The Quarterly EECBG Progress Report will be due on the 30 of the month following the quarter for which data is being reported. For the 3r month of each quarterly reporting period, both a monthly and quarterly report are due on their respective due dates. Monthly reporting will be effective beginning April 2010 with the first monthly report due. May 30, 2010. See instructions at: http:// www. eecbe .energy.gov/Downloads/EECBG 10- 07A.pdf 2. Submit reports to the DOE Project Officer. 3. Submit a report of leveraged fund expenditures to the DOE Project Officer, upon request. Other Reporting: • 1. ARRA - Performance Progress Report: The required reports are due no later than ten calendar days after each calendar quarter in which the recipient receives the assistance award funded in whole or in part by the Recovery Act. Recipients are instructed to maintain data in order to report cumulatively. See the Special Terms and Conditions for Recovery Act reporting requirements, along with the following web site: http: / /www.federalreporting.gov. 2. Disposition of Historic Preservation Consultations by Category Report: This report shall be submitted annually on September 1. A reporting format will be forthcoming. See Federal Assistance Reporting Instructions on following pages for more details. • • • Federal Assistance Reporting Instructions Reporting requirements under the EECBG Program consist of the following types of reports: SPECIAL STATUS REPORT The re pient must report the following events by e -mail as soon as possible after they occur: 1. De elopments that have a significant favorable impact on the project. 2. Pr lems, delays, or adverse conditions which materially impair the recipient's ability to meet the objectives of the award or which may require DOE to respond to questions relating to such events from the public. For example, the recipient must report any of the following incidents and include the anticipated impact and remedial action to be tak n to correct or resolve the problem/condition: a. Any single fatality or injuries requiring hospitalization of five or more individuals. b. Any significant environmental permit violation. c. Any verbal or written Notice of Violation of any Environmental, Safety, and Health statutes or regulations. d. Any incident which causes a significant process or hazard control system failure. e. Any event which is anticipated to cause a significant schedule slippage or cost increase. f. Any damage to Government -owned equipment in excess of $50,000. III g. Any other incident that has the potential for high visibility in the media. FINANCIA REPORTING • FOR ALL RECIPIENTS: Submit a Quarterly Progress Report and the SF -425 Federal Financial Report. Instructions for the Quarterly Progress Report are below. The SF -425 is available at http: / /www. whitehou se. gov /omb /grants /index. html . CLOSEOU REPORTING Pro ert y Certification The recipient must provide the Property Certification, including the required inventories of non - exempt property, located at http: / /grants.pr.doe.gov. ANNUAL REPORTS • FOR UNITS OF LOCAL GOVERNMENT AND NONPROFITS: Submit annual reports not later than two (2) yea . after the effective date of this award and annually thereafter. The annual report shall describe the status of dev. lopment and implementation of the energy efficiency and conservation strategy and an assessment of energy efficiency gains within the jurisdiction of the eligible unit of local government or nonprofit organizations. The ann al report shall also address the metrics listed below. • FO • STATES: Submit annual reports not later than one (1) year after the effective date of this award and annually ther after. The annual report will include the metrics listed below as well as: The status of the subgrant program of the state; III Specific energy efficiency and conservation goals of the state for subsequent calendar years; and 2 • • • ARRA PERFORMANCE PROGRESS REPORT Failure to comply with this reporting requirement may result in termination of that part of the award funding by Recovery Act. Not later than 10 days after the end of each calendar quarter, each recipient shall submit a report to the grantor agency that contains: • The total amount of American Recovery and Reinvestment Act of 2009, Pub. L. 111 -5, covered funds received from that agency; • The amount of American Recovery and Reinvestment Act of 2009, Pub. L. 111 -5, covered funds received that were expended or obligated to project or activities; • A detailed list of all projects for which American Recovery and Reinvestment Act of 2009, Pub. L. 111 -5, covered funds were expended or obligated including: o Name of project o Description of project o Evaluation of the completion status of project o Estimate of number of jobs created and retained by project in the manner and fonn prescribed by DOE o Infrastructure investments made by State and local governments, purpose, total cost, rationale or agency for funding infrastructure investment, name of agency contact. o Information on subcontracts or subgrants awarded by recipient to include data elements required to comply with the Federal Accountability and Transparency Act of 2006 (Pub. L. 109 -282). DOE intends to append the periodic ARRA — Performance Progress Report to include reporting on the following, at a minimum: The results of the funding provided for the EECBG Program through the American Recovery and Reinvestment Act (ARRA) will be assessed according to the following performance metrics: 411 • Jobs created and/or retained • Energy (kwh/therms /gallons /BTUs /etc.) saved • Renewable energy generated • GHG emissions reduced • Cost savings The metrics described below are designed to track the accomplishments of projects funded by EECBG. States must not include results reported by direct grant recipients. Grant recipients will be presented with reporting requirements at the time they receive funding and will be expected to report their achievements in terms of the specified metrics presented below. Grant recipients will be required to report on project expenditures, and also on specific activities and achievements, such as square feet of buildings retrofitted. These items tend to be outputs (actions taken by grant recipients) but also include some short -term outcomes (results achieved relatively soon after project outputs occur that lead toward attainment of ultimate project objectives). Expenditures: Accurate records should be kept on project expenditures for all EECBG ARRA funded efforts. The specific information to be gathered and tracked is listed below. It will be the same for all project types: • Expenditures for project activities • Expenditures for administration • Expenditures for evaluation • Leveraged funds • 3 • • will provide supplemental • Short -term Outcomes (DOE p pp guidance on how to calculate these outcomes g to ensure cc nsistent approaches that results can be aggregated at a regional, State and national level): Energy Saviigs (kwh equivalents) • Annual reduction in natural gas consumption (mmct) by sector and end -use category • Annual reduction in electricity consumption (MWh) by sector and end -use category • Annual reduction in electricity demand (MW) by sector and end -use category • Annual reduction in fuel oil consumption (gallons) by sector and end -use category • Annual reduction in propane consumption (gallons) by sector and end -use category • Annual reduction in gasoline and diesel fuel consumption (gallons) by sector and end -use category Job Creation/Retention • Number • Type • Duration Renewable Energy Capacity and Generation • Amount of wind - powered electric generating capacity installed (MW) • Amount of electricity generated from wind systems (MWh) • Amount of photovoltaic generating capacity installed (MW) • Amount of electricity generated from photovoltaic systems (MWh) • Amount of electric generating capacity from other renewable sources installed (MW) • Amount of electricity generated from other renewable sources (MWh) Emissions Reductions (tons) (CO2 equivalents) • • Methane • Carbon • Sulfur dioxide • Nitrogen oxide • Carbon monoxide Protected Pe - sonally Identifiable Information (PII) Reports mus. not contain any Protected PII. PII is any information about an individual which can be used to distinguish or trace an individual's identity. Some information that is considered to be PII is available in public sources such as telephone books, public websites, university listings, etc. This type of information is considered to be Public PII and includes, for example, first and last name, address, work telephone number, e-mail address, home telephi ne number, and general educational credentials. In contrast, Protected PII is defined as an individual's first name or first initial and last name in combination with any one or more of types of information, including, b not limited to, social security number, passport number, credit card numbers, clearances, bank numbers, bi etrics, date and place of birth, mother's maiden name, criminal, medical and financial records, educational transcripts, e c. 411 4 • DE- EE0003798/000 Eagle County, CO • SPECIAL TERMS AND CONDITIONS Table of Contents Number Subject Page 1. RESOLUTION OF CONFLICTING CONDITIONS 2 2. AWARD AGREEMENT TERMS AND CONDITIONS 2 3. ELECTRONIC AUTHORIZATION OF AWARD DOCUMENTS 2 4. PAYMENT PROCEDURES - ADVANCES THROUGH THE AUTOMATED STANDARD APPLICATION FOR PAYMENTS (ASAP) SYSTEM 2 5. LIMITATIONS ON USE OF FUNDS 3 6. REIMBURSABLE FRINGE BENEFIT COSTS 3 7. INDIRECT COSTS ARE NOT REIMBURSABLE 3 8. USE OF PROGRAM INCOME 4 9. STATEMENT OF FEDERAL STEWARDSHIP 4 10. SITE VISITS 4 11. REPORTING REQUIREMENTS 4 12. PUBLICATIONS 5 13. FEDERAL, STATE, AND MUNICIPAL REQUIREMENTS 5 14. INTELLECTUAL PROPERTY PROVISIONS AND CONTACT INFORMATION 5 15. LOBBYING RESTRICTIONS 6 16. NATIONAL ENVIRONMENTAL POLICY ACT (NEPA) REQUIREMENTS 6 17. HISTORIC PRESERVATION 6 18. WASTE STREAM 7 • 19. DECONTAMINATION AND /OR DECOMMISSIONING (D &D) COSTS 7 20. SUBGRANTS, SUBCONTRACTS, AND LOANS 8 21. ADVANCE UNDERSTANDING CONCERNING PUBLICLY FINANCED ENERGY IMPROVEMENT PROGRAMS 8 22. SPECIAL PROVISIONS RELATING TO WORK FUNDED UNDER AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 (May 2009) 9 23. REPORTING AND REGISTRATION REQUIREMENTS UNDER SECTION 1512 OF THE RECOVERY ACT 13 24. NOTICE REGARDING THE PURCHASE OF AMERICAN -MADE EQUIPMENT AND PRODUCTS -- SENSE OF CONGRESS 14 25. REQUIRED USE OF AMERICAN IRON, STEEL, AND MANUFACTURED GOODS — SECTION 1605 OF THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 14 26. REQUIRED USE OF AMERICAN IRON, STEEL, AND MANUFACTURED GOODS (COVERED UNDER INTERNATIONAL AGREEMENTS) — SECTION 1605 OF THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 17 27. WAGE RATE REQUIREMENTS UNDER SECTION 1606 OF THE RECOVERY ACT 21 28. RECOVERY ACT TRANSACTIONS LISTED IN SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND RECIPIENT RESPONSIBILITIES FOR INFORMING SUBRECIPIENTS 22 29. DAVIS -BACON ACT AND CONTRACT WORKHOURS AND SAFETY STANDARD ACT 23 111 1 • • DE- EE0003798/000 Eagle County, CO 1. RESOLUTION OF CONFLICTING CONDITIONS • Any apparent inconsistency between Federal statutes and regulations and the terms and conditions contained in this award must be referred to the DOE Award Administrator for guidance. 2. • WARD AGREEMENT TERMS AND CONDITIONS This : ward/agreement consists of the Assistance Agreement, plus the following: a Special Terms and Conditions. b Attachments: • ttachment Number Title 1. Intellectual Property Provisions 2. Statement of Project Objectives 3. Federal Assistance Reporting Checklist and Instructions 4. Budget Pages (SF 424A) c DOE Assistance Regulations, 10 CFR Part 600 at http: / /ecfr.gpoaccess.gov. Application/proposal as approved by DOE. e National Policy Incorporated to Be Inco orated as Award Terms in effect on date of award at http: // management. energy .gov /business_doe /1374.htm. 3. LECTRONIC AUTHORIZATION OF AWARD DOCUMENTS Ac owledgement of award documents by the Recipient's authorized representative through • elec onic systems used by the Department of Energy, specifically FedConnect, constitutes the N ecipient's acceptance of the terms and conditions of the award. Acknowledgement via Fed onnect by the Recipient's authorized representative constitutes the Recipient's elect onic signature. 4. YMENT PROCEDURES - ADVANCES THROUGH THE AUTOMATED ANDARD APPLICATION FOR PAYMENTS (ASAP) SYSTEM a. Method of Payment. Payment will be made by advances through the Department of Treasury's ASAP system. b. a uestin Advances. Requests for advances must be made through the ASAP system. ou may submit requests as frequently as required to meet your needs to disburse funds for the Federal share of project costs. If feasible, you should time each request so that you receive payment on the same day that you disperse funds for direct project costs and the proportionate share of any allowable indirect costs. If same -day transfers are not f asible, advance payments must be as close to actual disbursements as administratively f asible. c. • d'ustin • • a ent re. uests for available cash. You must disburse any funds that are a ailable from repayments to and interest earned on a revolving fund, program income, 2 • • DE- EE0003798/000 Eagle County, CO rebates, refunds, contract settlements, audit recoveries, credits, discounts, and interest earned on any of those funds before requesting additional cash payments from DOE. d. Payments. All payments are made by electronic funds transfer to the bank account identified on the ASAP Bank Information Form that you filed with the U.S. Department of Treasury. 5. LIMITATIONS ON USE OF FUNDS a. By accepting funds under this award, you agree that none of the funds obligated on the award shall be expended, directly or indirectly, for gambling establishments, aquariums, zoos, golf courses or swimming pools. b. Recipients may use not more than 50 percent of the amounts provided for a loan loss reserve to support loans made with private and public funds and to support a sale of loans made by a grantee or third -party lenders into a secondary market. 6. REIMBURSABLE FRINGE BENEFIT COSTS a. The Recipient is expected to manage their final negotiated project budgets, including their fringe benefit costs. DOE will not amend an award solely to provide additional funds for changes in fringe benefit costs or for changes in rates used for calculating these • costs. DOE recognizes that the inability to obtain full reimbursement fringe benefit costs means the Recipient must absorb the underrecovery. Such underrecovery may be allocated as part of the Recipient's cost share. b. If actual allowable fringe benefit costs are less than those budgeted and funded under the award, the Recipient may use the difference to pay additional allowable direct costs during the project period. If at the completion of the award the Government's share of total allowable costs (i.e., direct and indirect), is less than the total costs reimbursed, the Recipient must refund the difference. 7. INDIRECT COSTS ARE NOT REIMBURSABLE The budget for this award does not include indirect costs. Therefore, these expenses shall not be charged to nor reimbursement requested for this project nor shall the indirect costs from this project be allocated to any other federally sponsored project. In addition, indirect costs shall not be counted as cost share unless approved by the Contracting Officer. This restriction does not apply to sub - awardees' indirect costs. • 3 • • DE- EE0003798/000 Eagle County, CO 8. USE OF PROGRAM INCOME • If you earn program income during the project period as a result of this award, you may add the p ogram income to the funds committed to the award and used to further eligible project obje• ives. 9. S ATEMENT OF FEDERAL STEWARDSHIP DOE will exercise normal Federal stewardship in overseeing the project activities performed und- this award. Stewardship activities include, but are not limited to, conducting site visit-; reviewing performance and financial reports; providing technical assistance and /or temp s rary intervention in unusual circumstances to correct deficiencies which develop duri • the project; assuring compliance with terms and conditions; and reviewing technical perfs ance after project completion to ensure that the award objectives have been acco plished. 10. I TE VISITS DO s authorized representatives have the right to make site visits at reasonable times to revie project accomplishments and management control systems and to provide technical assistance, if required. You must provide, and must require your subawardees to provide, reasonable access to facilities, office space, resources, and assistance for the safety and convenience of the government representatives in the performance of their duties. All site • visits and evaluations must be performed in a manner that does not unduly interfere with or delay the work. 11. REPORTING REQUIREMENTS a. e•uirements. The reporting requirements for this award are identified on the Federal • ssistance Reporting Checklist, DOE F 4600.2, attached to this award. Failure to c Imply with these reporting requirements is considered a material noncompliance with t e terms of the award. Noncompliance may result in withholding of future payments, s spension or termination of the current award, and withholding of future awards. A illful failure to perform, a history of failure to perform, or unsatisfactory performance . i this and /or other financial assistance awards, may also result in a debarment action to eclude future awards by Federal agencies. b. • dditional Recovery Act Reporting Requirements are found in the Provision below 1 beled: "REPORTING AND REGISTRATION REQUIREMENTS UNDER SECTION 1.12 OF THE RECOVERY ACT • 4 • • DE- EE0003798/000 Eagle County, CO • 12. PUBLICATIONS a. You are encouraged to publish or otherwise make publicly available the results of the work conducted under the award. b. An acknowledgment of DOE support and a disclaimer must appear in the publication of any material, whether copyrighted or not, based on or developed under this project, as follows: Acknowledgment: "This material is based upon work supported by the Department of Energy [National Nuclear Security Administration] [add name(s) of other agencies, if applicable] under Award Number(s) [enter the award number(s)]." Disclaimer: "This report was prepared as an account of work sponsored by an agency of the United States Government. Neither the United States Government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or any agency thereof. • The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States Government or any agency thereof." 13. FEDERAL, STATE, AND MUNICIPAL REQUIREMENTS You must obtain any required permits, ensure the safety and structural integrity of any repair, replacement, construction and/or alteration, and comply with applicable federal, state, and municipal laws, codes, and regulations for work performed under this award. 14. INTELLECTUAL PROPERTY PROVISIONS AND CONTACT INFORMATION a. The intellectual property provisions applicable to this award are provided as an attachment to this award or are referenced in the Agreement Cover Page. A list of all intellectual property provisions may be found at http:// www .gc.doe.gov /financial_assistance awards.htm. b. Questions regarding intellectual property matters should be referred to the DOE Award Administrator identified and the Patent Counsel designated as the service provider for the DOE office that issued the award. The IP Service Providers List is found at http: / /www.gc.doe.gov/ documents /Intellectual Property_(IP)Service Providers_for Ac quisition.pdf • c. The IP Service Provider for the Golden Field Office is Julia Moody, who may be reached at julia.moody@go.doe.gov or 303 - 275 -4867 5 • • DE- EE0003798/000 Eagle County, CO 15. LOBBYING RESTRICTIONS • By accepting funds under this award, you agree that none of the funds obligated on the award shall ,be expended, directly or indirectly, to influence congressional action on any legislation or appropriation matters pending before Congress, other than to communicate to Members of Congress as described in 18 U.S.C. 1913. This restriction is in addition to those prescribed elsewhere in statute and regulation. 16. ATIONAL ENVIRONMENTAL POLICY ACT (NEPA) REQUIREMENTS You e restricted from taking any action using Federal funds, which would have an adverse effe on the environment or limit the choice of reasonable alternatives prior to DOE prov ding either a NEPA clearance or a final NEPA decision regarding this project. If yo move forward with activities that are not authorized for Federal funding by the DOE Con acting Officer in advance of the final NEPA decision, you are doing so at risk of not recei ing Federal funding and such costs may not be recognized as allowable cost share. You re prohibited from implementing energy efficiency improvements and renewable energy generation opportunities, including demolition, repair, replacement, installation, construction, disposal, or alteration activities until such time that you comply with the Waste Stre. and Historic Preservation clauses. If th award includes construction activities, you must submit an environmental evaluation • repo /evaluation notification form addressing NEPA issues prior to DOE initiating the NEP process. If yo intend to make changes to the scope or objective of your project you are required to cont. ct the DOE Project Officer identified in Block 15 of the Assistance Agreement before proc eding. You must receive notification of approval from the DOE Contracting Officer prio to commencing with work beyond that currently approved: All siojects under this Award are bounded in compliance with the uploaded and signed Stat:i ent of Work Expedited NEPA review. DOE has made a final NEPA Determination for this . ctivity, which is categorically excluded from further NEPA review. Any projects that fall s utside the Statement of Work are conditioned pending further NEPA review. 17. ISTORIC PRESERVATION Prio to the expenditure of Project funds to alter any historic structure or site, the Recipient or subrecipient shall ensure that it is compliant with Section 106 of the National Historic Preservation Act (NHPA), consistent with DOE's 2009 letter of delegation of authority regarding the NHPA. Section 106 applies to historic properties that are listed in or eligible for listing in the National Register of Historic Places. If applicable, the Recipient or subrecipient must contact the State Historic Preservation Officer (SHPO), and the Tribal Historic Preservation Officer (THPO) to coordinate the • Section 106 review outlined in 36 CFR Part 800. In the event that a State, State SHPO 6 II/ • DE- EE0003798/000 Eagle County, CO and DOE enter into a Programmatic Agreement, the terms of that Programmatic Agreement shall apply to all recipient and subrecipient activities within that State. SHPO contact information is available at the following link: http:/ /www.ncshpo.org/find/index.htm. THPO contact information is available at the following link: http: / /www.nathpo.org/map.html. Section 110(k) of the NHPA applies to DOE funded activities. The Recipient or subrecipient certifies that it will retain sufficient documentation to demonstrate that the Recipient or subrecipient has received required approval(s) from the SHPO or THPO for the Project. Recipients or subrecipients shall avoid taking any action that results in an adverse effect to historic properties pending compliance with Section 106. The Recipient or subrecipient shall deem compliance with Section 106 of the NHPA complete only after it has received this documentation. The Recipient or subrecipient shall make this documentation available to DOE on DOE's request (for q ( example, during a post -award audit). Recipient will be required to report annually on September 1 the disposition of all historic preservation consultations by category. 18. WASTE STREAM The Recipient assures that it will create or obtain a waste management plan addressing waste generated by a proposed Project prior to the Project generating waste. This waste management plan will describe the Recipient's or subrecipient's plan to dispose of any sanitary or hazardous waste (e.g., construction and demolition debris, old light bulbs, lead • ballasts, piping, roofing material, discarded equipment, debris, and asbestos) generated as a result of the proposed Project. The Recipient shall ensure that the Project is in compliance with all Federal, state and local regulations for waste disposal. The Recipient shall make the waste management plan and related documentation available to DOE on DOE's request (for example, during a post -award audit). 19. DECONTAMINATION AND /OR DECOMMISSIONING (D &D) COSTS Notwithstanding any other provisions of this Agreement, the Government shall not be responsible for or have any obligation to the Recipient for (i) Decontamination and /or Decommissioning (D &D) of any of the Recipient's facilities, or (ii) any costs which may be incurred by the Recipient in connection with the D &D of any of its facilities due to the performance of the work under this Agreement, whether said work was performed prior to or subsequent to the effective date of the Agreement. • 7 • • DE- EE0003798/000 Eagle County, CO 20. S UBGRANTS, SUBCONTRACTS, AND LOANS • a. The Recipient hereby warrants that it will ensure that all activities by sub - grantee(s) and loan recipients are consistent with the approved Statement of Project Objectives. b. Lpon the Recipient's selection of the sub - grantee(s) and loan recip: ents, the Recipient shall notify (i.e. approval not required) the DOE Project Officer with the ft llowing information for each, regardless of dollar amount: - Name of Sub - Grantee - DUNS Number - ward Amount - S atement of work including applicable activities c. I addition to the information in paragraph b. above, for each sub- ant and loan that has an estimated cost greater than $10,000,000, the recipient must sub it for approval by the Contracting Officer, a SF424A Budget Information - Non onstruction Programs, and PMC 123.1 Cost Reasonableness Determination for Fin cial Assistance (available at http: / /www.eere- pmc.energy.gov /forms.aspx). 21. DVANCE UNDERSTANDING CONCERNING PUBLICLY FINANCED NERGY IMPROVEMENT PROGRAMS The arties recognize that the Recipient may use funds under this award for Property- • Assefised Clean Energy (PACE) loans, Sustainable Energy Municipal Financing, Clean Energy Assessment Districts, Energy Loan Tax Assessment Programs (ELTAPS), or any otheij form or derivation of Special Taxing District whereby taxing entities collect payments through increased tax assessments for energy efficiency and renewable energy building improvements made by their constituents. The Department of Energy intends to publish "Best Practices" or other guidelines pertaining to the use of funds made available to the Recipient under this award pertaining to the programs identified herein. By accepting this award, the Recipient agrees to incorporate, to the maximum extent practicable, those Best Prac l' ces and other guidelines into any such program(s) within a reasonable time after noti `cation by DOE that the Best Practices or guidelines have been made available. The Reci dent also agrees, by its acceptance of this award, to require its sub - recipients to inco • orate to the maximum extent practicable the best practices and other guideline into any such aerogram used by the sub - recipient. • 8 • DE- EE0003798/000 Eagle County, CO • 22. SPECIAL PROVISIONS RELATING TO WORK FUNDED UNDER AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 (May 2009) Preamble The American Recovery and Reinvestment Act of 2009, Pub. L. 111 -5, (Recovery Act) was enacted to preserve and create jobs and promote economic recovery, assist those most impacted by the recession, provide investments needed to increase economic efficiency by spurring technological advances in science and health, invest in transportation, environmental protection, and other infrastructure that will provide long -term economic benefits, stabilize State and local government budgets, in order to minimize and avoid reductions in essential services and counterproductive State and local tax increases. Recipients shall use grant funds in a manner that maximizes job creation and economic benefit. The Recipient shall comply with all terms and conditions in the Recovery Act relating generally to governance, accountability, transparency, data collection and resources as specified in Act itself and as discussed below. Recipients should begin planning activities for their first tier subrecipients, including obtaining a DUNS number (or updating the existing DUNS record), and registering with the Central Contractor Registration (CCR). • Be advised that Recovery Act funds can be used in conjunction with other funding as necessary to complete projects, but tracking and reporting must be separate to meet the reporting requirements of the Recovery Act and related guidance. For projects funded by sources other than the Recovery Act, Contractors must keep separate records for Recovery Act funds and to ensure those records comply with the requirements of the Act. The Government has not fully developed the implementing instructions of the Recovery Act, particularly concerning specific procedural requirements for the new reporting requirements. The Recipient will be provided these details as they become available. The Recipient must comply with all requirements of the Act. If the recipient believes there is any inconsistency between ARRA requirements and current award terms and conditions, the issues will be referred to the Contracting Officer for reconciliation. Definitions For purposes of this clause, Covered Funds means funds expended or obligated from appropriations under the American Recovery and Reinvestment Act of 2009, Pub. L. 111 -5. Covered Funds will have special accounting codes and will be identified as Recovery Act funds in the grant, cooperative agreement or TIA and /or modification using Recovery Act funds. Covered Funds must be reimbursed by September 30, 2015. Non - Federal employer means any employer with respect to covered funds -- the contractor, subcontractor, grantee, or recipient, as the case may be, if the contractor, subcontractor, • grantee, or recipient is an employer; and any professional membership organization, certification of other professional body, any agent or licensee of the Federal government, or 9 • DE- EE0003798/000 Eagle County, CO any person acting directly or indirectly in the interest of an employer receiving covered 410 funds; or with respect to covered funds received by a State or local government, the State or local government receiving the funds and any contractor or subcontractor receiving the funds and any contractor or subcontractor of the State or local government; and does not mean any department, agency, or other entity of the federal government. Reci ; ient means any entity that receives Recovery Act funds directly from the Federal gove ent (including Recovery Act funds received through grant, loan, or contract) other than ; individual and includes a State that receives Recovery Act Funds. Spe Provisions A. Flow Down Res uirement Reci i ients must include these special terms and conditions in any subaward. B. S . i e i ation of Costs Recipients must segregate the obligations and expenditures related to funding under the Recovery Act. Financial and accounting systems should be revised as necessary to segregate, track and maintain these funds apart and separate from other revenue streams. No part of the funds from the Recovery Act shall be commingled with any other funds or used for a urpose other than that of making payments for costs allowable for Recovery Act III proj ts. • C. P ohibition on Use of Funds Non of the funds provided under this agreement derived from the American Recovery and Rein estment Act of 2009, Pub. L. 111 -5, may be used by any State or local government, or any private entity, for any casino or other gambling establishment, aquarium, zoo, golf cour e, or swimming pool D. ccess to Records With respect to each financial assistance agreement awarded utilizing at least some of the fund appropriated or otherwise made available by the American Recovery and Reinvestment Act f 2009, Pub. L. 111 -5, any representative of an appropriate inspector general appointed unde section 3 or 8G of the Inspector General Act of 1988 (5 U.S.C. App.) or of the Com troller General is authorized -- ( ) to examine any records of the contractor or grantee, any of its subcontractors or sub antees, or any State or local agency administering such contract that pertain to, and invo e transactions that relate to, the subcontract, subcontract, grant, or subgrant; and ( ) to interview any officer or employee of the contractor, grantee, subgrantee, or agency rega ing such transactions. • 10 • DE- EE0003798/000 Eagle County, CO E. Publication An application may contain technical data and other data, including trade secrets and /or privileged or confidential information, which the applicant does not want disclosed to the public or used by the Government for any purpose other than the application. To protect such data, the applicant should specifically identify each page including each line or paragraph thereof containing the data to be protected and mark the cover sheet of the application with the following Notice as well as referring to the Notice on each page to which the Notice applies: Notice of Restriction on Disclosure and Use of Data The data contained in pages - - -- of this application have been submitted in confidence and contain trade secrets or proprietary information, and such data shall be used or disclosed only for evaluation purposes, provided that if this applicant receives an award as a result of or in connection with the submission of this application, DOE shall have the right to use or disclose the data here to the extent provided in the award. This restriction does not limit the Government's right to use or disclose data obtained without restriction from any source, including the applicant. Information about this agreement will be published on the Internet and linked to the website www.recovery.gov, maintained by the Accountability and Transparency Board. The Board may exclude posting contractual or other information on the website on a case -by -case basis • when necessary to protect national security or to protect information that is not subject to disclosure under sections 552 and 552a of title 5, United States Code. F. Protecting State and Local Government and Contractor Whistleblowers. The requirements of Section 1553 of the Act are summarized below. They include, but are not limited to: Prohibition on Reprisals: An employee of any non - Federal employer receiving covered funds under the American Recovery and Reinvestment Act of 2009, Pub. L. 111 -5, may not be discharged, demoted, or otherwise discriminated against as a reprisal for disclosing, including a disclosure made in the ordinary course of an employee's duties, to the Accountability and Transparency Board, an inspector general, the Comptroller General, a member of Congress, a State or Federal regulatory or law enforcement agency, a person with supervisory authority over the employee (or other person working for the employer who has the authority to investigate, discover or terminate misconduct), a court or grant jury, the head of a Federal agency, or their representatives information that the employee believes is evidence of: - gross management of an agency contract or grant relating to covered funds; - a gross waste of covered funds; - a substantial and specific danger to public health or safety related to the implementation or use of covered funds; • - an abuse of authority related to the implementation or use of covered funds; or - as violation of law, rule, or regulation related to an agency contract (including the 11 11■0■1117 • • DE- EE0003798/000 Eagle County, CO competition for or negotiation of a contract) or grant, awarded or issued relating to covered III funds. Age cy Action: Not later than 30 days after receiving an inspector general report of an alleg • d reprisal, the head of the agency shall determine whether there is sufficient basis to conc de that the non - Federal employer has subjected the employee to a prohibited reprisal. The . gency shall either issue an order denying relief in whole or in part or shall take one or mor: of the following actions: - Order the employer to take affirmative action to abate the reprisal. - Order the employer to reinstate the person to the position that the person held before the repri al, together with compensation including back pay, compensatory damages, empl s yment benefits, and other terms and conditions of employment that would apply to the person in that position if the reprisal had not been taken. - • rder the employer to pay the employee an amount equal to the aggregate amount of all costs and expenses (including attorneys' fees and expert witnesses' fees) that were reasonably incu ed by the employee for or in connection with, bringing the complaint regarding the repri al, as determined by the head of a court of competent jurisdiction. Non; nforceability of Certain Provisions Waiving Rights and remedies or Requiring Arbi ation: Except as provided in a collective bargaining agreement, the rights and remedies provided to aggrieved employees by this section may not be waived by any agreement, policy, form, or condition of employment, including any predispute arbitration agreement. No predispute arbitration agreement shall be valid or enforceable if it requires arbitration of a III disp to arising out of this section. Req . rement to Post Notice of Rights and Remedies: Any employer receiving covered funds unde the American Recovery and Reinvestment Act of 2009, Pub. L. 111 -5, shall post notice of th rights and remedies as required therein. (Refer to section 1553 of the American Rec. ery and Reinvestment Act of 2009, Pub. L. 111 -5, www.Recovery.gov, for specific requ ements of this section and prescribed language for the notices.). G. R • served H. F , ise Claims Act Reci I ient and sub - recipients shall promptly refer to the DOE or other appropriate Inspector General any credible evidence that a principal, employee, agent, contractor, sub - grantee, subcontractor or other person has submitted a false claim under the False Claims Act or has committed a criminal or civil violation of laws pertaining to fraud, conflict of interest, bribery, gratuity or similar misconduct involving those funds. I. Information in Support of Recovery Act Reporting Recipient may be required to submit backup documentation for expenditures of funds under the Recovery Act including such items as timecards and invoices. Recipient shall provide copi s of backup documentation at the request of the Contracting Officer or designee. III 12 DE- EE0003798/000 Eagle County, CO • J. Availability of Funds Funds obligated to this award are available for reimbursement of costs until 36 months after the award date. K. Additional Funding Distribution and Assurance of Appropriate Use of Funds Certification by Governor — For funds provided to any State or agency thereof by the American Reinvestment and Recovery Act of 2009, Pub. L. 111 -5, the Governor of the State shall certify that: 1) the state will request and use funds provided by the Act; and 2) the funds will be used to create jobs and promote economic growth. Acceptance by State Legislature -- If funds provided to any State in any division of the Act are not accepted for use by the Governor, then acceptance by the State legislature, by means of the adoption of a concurrent resolution, shall be sufficient to provide funding to such State. Distribution -- After adoption of a State legislature's concurrent resolution, funding to the State will be for distribution to local governments, councils of government, public entities, and public - private entities within the State either by formula or at the State's discretion. L. Certifications • With respect to funds made available to State or local governments for infrastructure investments under the American Recovery and Reinvestment Act of 2009, Pub. L. 111 -5, the Governor, mayor, or other chief executive, as appropriate, certified by acceptance of this award that the infrastructure investment has received the full review and vetting required by law and that the chief executive accepts responsibility that the infrastructure investment is an appropriate use of taxpayer dollars. Recipient shall provide an additional certification that includes a description of the investment, the estimated total cost, and the amount of covered funds to be used for posting on the Internet. A State or local agency may not receive infrastructure investment funding from funds made available by the Act unless this certification is made and posted. 23. REPORTING AND REGISTRATION REQUIREMENTS UNDER SECTION 1512 OF THE RECOVERY ACT (a) This award requires the recipient to complete projects or activities which are funded under the American Recovery and Reinvestment Act of 2009 (Recovery Act) and to report on use of Recovery Act funds provided through this award. Information from these reports will be made available to the public. (b) The reports are due no later than ten calendar days after each calendar quarter in which the Recipient receives the assistance award funded in whole or in part by the Recovery Act. 13 • 4111 DE- EE0003798/000 Eagle County, CO (c) Recipients and their first -tier subrecipients must maintain current registrations in the Central Contractor Registration (http://www.ccr.gov) at all times during which they have active federal awards funded with Recovery Act funds. A Dun and Bradstreet Data Universal Numbering System (DUNS) Number (http: / /www.dnb.com) is one of the requirements for regis ration in the Central Contractor Registration. (d) e recipient shall report the information described in section 1512(c) of the Recovery Act sing the reporting instructions and data elements that will be provided online at http: www.FederalReporting.gov and ensure that any information that is pre - filled is corr ted or updated as needed. 24. OTICE REGARDING THE PURCHASE OF AMERICAN -MADE QUIPMENT AND PRODUCTS -- SENSE OF CONGRESS It is e sense of the Congress that, to the greatest extent practicable, all equipment and prod cts purchased with funds made available under this award should be American-made. *Special Note: Definitization of the Provisions entitled, "REQUIRED USE OF AMERICAN IRON, STEEL, AND MANUFACTURED GOODS — SECTION 1605 OF THE AM RICAN RECOVERY AND REINVESTMENT ACT OF 2009" and "REQUIRED USE OF MERICAN IRON, STEEL, AND MANUFACTURED GOODS (COVERED UNDER INT RNATIONAL AGREEMENTS) — SECTION 1605 OF THE AMERICAN REC VERY AND REINVESTMENT ACT OF 2009" will be done upon definition and • revi of final activities. 25. EQUIRED USE OF AMERICAN IRON, STEEL, AND MANUFACTURED OODS — SECTION 1605 OF THE AMERICAN RECOVERY AND EINVESTMENT ACT OF 2009 If th Recipient determines at any time that any construction, alteration, or repair activity on a pu lic building or public works will be performed during the course of the project, the Reci ient shall notify the Contracting Officer prior to commencing such work and the follo ing provisions shall apply. (a) finitions. As used in this award term and condition- - (1) Manufactured good means a good brought to the construction site for incorporation into the b gilding or work that has been- - (i) Processed into a specific form and shape; or (ii) Combined with other raw material to create a material that has different properties than the properties of the individual raw materials. (2) Public building and public work means a public building of, and a public work of, a • governmental entity (the United States; the District of Columbia; commonwealths, territories, 14 • DE- EE0003798/000 Eagle County, CO • and minor outlying islands of the United States; State and local governments; and multi - State, regional, or interstate entities which have governmental functions). These buildings and works may include, without limitation, bridges, dams, plants, highways, parkways, streets, subways, tunnels, sewers, mains, power lines, pumping stations, heavy generators, railways, airports, terminals, docks, piers, wharves, ways, lighthouses, buoys, jetties, breakwaters, levees, and canals, and the construction, alteration, maintenance, or repair of such buildings and works. (3) Steel means an alloy that includes at least 50 percent iron, between .02 and 2 percent carbon, and may include other elements. (b) Domestic preference. (1) This award term and condition implements Section 1605 of the American Recovery and Reinvestment Act of 2009 (Recovery Act) (Pub. L. 111 - -5), by requiring that all iron, steel, and manufactured goods used in the project are produced in the United States except as provided in paragraph (b)(3) of this section and condition. (2) This requirement does not apply to the material listed by the Federal Government as follows: None. (3) The award official may add other iron, steel, and/or manufactured goods to the list in paragraph (b)(2) of this section and condition if the Federal Government determines that -- . (i) The cost of the domestic iron, steel, and /or manufactured goods would be unreasonable. The cost of domestic iron, steel, or manufactured goods used in the project is unreasonable when the cumulative cost of such material will increase the cost of the overall project by more than 25 percent; (ii) The iron, steel, and /or manufactured good is not produced, or manufactured in the United States in sufficient and reasonably available quantities and of a satisfactory quality; or (iii) The application of the restriction of section 1605 of the Recovery Act would be inconsistent with the public interest. (c) Request for determination of inapplicability of Section 1605 of the Recovery Act. (1)(i) Any recipient request to use foreign iron, steel, and/or manufactured goods in accordance with paragraph (b)(3) of this section shall include adequate information for Federal Government evaluation of the request, including -- (A) A description of the foreign and domestic iron, steel, and/or manufactured goods; (B) Unit of measure; (C) Quantity; • 15 • DE- EE0003798/000 Eagle County, CO (D) Cost; • (E) Time of delivery or availability; (F) Location of the project; (G) Name and address of the proposed supplier; and (H) A detailed justification of the reason for use of foreign iron, steel, and/or manufactured good; cited in accordance with paragraph (b)(3) of this section. (ii) A request based on unreasonable cost shall include a reasonable survey of the market and a completed cost comparison table in the format in paragraph (d) of this section. (iii) The cost of iron, steel, and /or manufactured goods material shall include all delivery costs to the construction site and any applicable duty. (iv) Any recipient request for a determination submitted after Recovery Act funds have been obligated for a project for construction, alteration, maintenance, or repair shall explain why the recipient could not reasonably foresee the need for such determination and could not have requested the determination before the funds were obligated. If the recipient does not submit a satisfactory explanation, the award official need not make a determination. (2) lithe Federal Government determines after funds have been obligated for a project for • consi ction, alteration, maintenance, or repair that an exception to section 1605 of the Rec. ery Act applies, the award official will amend the award to allow use of the foreign iron, steel, and/or relevant manufactured goods. When the basis for the exception is nona ailability or public interest, the amended award shall reflect adjustment of the award amo nt, redistribution of budgeted funds, and /or other actions taken to cover costs associated with , cquiring or using the foreign iron, steel, and /or relevant manufactured goods. When the basis for the exception is the unreasonable cost of the domestic iron, steel, or manufactured good., the award official shall adjust the award amount or redistribute budgeted funds by at least he differential established in 2 CFR 176.110(a). (3) nless the Federal Government determines that an exception to section 1605 of the Rec. ery Act applies, use of foreign iron, steel, and /or manufactured goods is noncompliant with .ection 1605 of the American Recovery and Reinvestment Act. • 16 • DE- EE0003798/000 Eagle County, CO . (d) Data. To permit evaluation of requests under paragraph (b) of this section based on unreasonable cost, the Recipient shall include the following information and any applicable supporting data based on the survey of suppliers: Foreign and Domestic Items Cost Comparison Cost Description Unit of measure Quantity (dollars)* Item 1: Foreign steel, iron, or manufactured good Domestic steel, iron, or manufactured good Item 2: Foreign steel, iron, or manufactured good Domestic steel, iron, or manufactured good [List name, address, telephone number, email address, and contact for suppliers surveyed. Attach copy of response; if oral, attach summary.] • [Include other applicable supporting information.] [ *Include all delivery costs to the construction site.] 26. REQUIRED USE OF AMERICAN IRON, STEEL, AND MANUFACTURED GOODS (COVERED UNDER INTERNATIONAL AGREEMENTS) — SECTION 1605 OF THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 (a) Definitions. As used in this award term and condition- - Designated country -- (1) A World Trade Organization Government Procurement Agreement country (Aruba, Austria, Belgium, Bulgaria, Canada, Chinese Taipei (Taiwan), Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea (Republic of), Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Singapore, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, and United Kingdom; (2) A Free Trade Agreement (FTA) country (Australia, Bahrain, Canada, Chile, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Mexico, Morocco, Nicaragua, Oman, Peru, or Singapore); • (3) A United States-European Communities Exchange of Letters (May 15, 1995) country: g ( Y � ) Y• 17 • DE- EE0003798/000 Eagle County, CO Austipia, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, • Gerrrlany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, and United Kingdom; or (4) Agreement between Canada and the United States of America on Government Proc rement country (Canada). Desi nated country iron, steel, and /or manufactured goods — (1) I wholly the growth, product, or manufacture of a designated country; or (2) I the case of a manufactured good that consist in whole or in part of materials from anot er country, has been substantially transformed in a designated country into a new and diffe ent manufactured good distinct from the materials from which it was transformed. Dom stic iron, steel, and /or manufactured good — (1) I wholly the growth, product, or manufacture of the United States; or (2) In the case of a manufactured good that consists in whole or in part of materials from another country, has been substantially transformed in the United States into a new and diffe ent manufactured good distinct from the materials from which it was transformed. • Ther is no requirement with regard to the origin of components or subcomponents in man factured goods or products, as long as the manufacture of the goods occurs in the Unit d States. Fore gn iron, steel, and /or manufactured good means iron, steel and /or manufactured good that i not domestic or designated country iron, steel, and /or manufactured good. • Man actured good means a good brought to the construction site for incorporation into the buil ng or work that has been (1) P ocessed into a specific form and shape; or (2) Combined with other raw material to create a material that has different properties than the properties of the individual raw materials. Publ1c building and public work means a public building of, and a public work of, a governmental entity (the United States; the District of Columbia; commonwealths, territories, and minor outlying islands of the United States; State and local governments; and multi - State, regional, or interstate entities which have governmental functions). These buildings and dvorks may include, without limitation, bridges, dams, plants, highways, parkways, streets, subways, tunnels, sewers, mains, power lines, pumping stations, heavy generators, railways, airports, terminals, docks, piers, wharves, ways, lighthouses, buoys, jetties, • breakwaters, levees, and canals, and the construction, alteration, maintenance, or repair of 18 • DE- EE0003798/000 Eagle County, CO such buildings and works. Steel means an alloy that includes at least 50 percent iron, between .02 and 2 percent carbon, and may include other elements. (b) Iron, steel, and manufactured goods. (1) The award term and condition described in this section implements - (i) Section 1605(a) of the American Recovery and Reinvestment Act of 2009 (Pub. L. 111 -5) (Recovery Act), by requiring that all iron, steel, and manufactured goods used in the project are produced in the United States; and (ii) Section 1605(d), which requires application of the Buy American requirement in a manner consistent with U.S. obligations under international agreements. The restrictions of section 1605 of the Recovery Act do not apply to designated country iron, steel, and /or manufactured goods. The Buy American requirement in section 1605 shall not be applied where the iron, steel or manufactured goods used in the project are from a Party to an international agreement that obligates the recipient to treat the goods and services of that Party the same as domestic goods and services. As of January 1, 2010, this obligation shall only apply to projects with an estimated value of $7,804,000 or more. . (2) The recipient shall use only domestic or designated country iron, steel, and manufactured goods in performing the work funded in whole or part with this award, except as provided in paragraphs (b)(3) and (b)(4) of this section. (3) The requirement in paragraph (b)(2) of this section does not apply to the iron, steel, and manufactured goods listed by the Federal Government as follows: None. (4) The award official may add other iron, steel, and manufactured goods to the list in paragraph (b)(3) of this section if the Federal Government determines that- - (i) The cost of domestic iron, steel, and /or manufactured goods would be unreasonable. The cost of domestic iron, steel, and/or manufactured goods used in the project is unreasonable when the cumulative cost of such material will increase the overall cost of the project by more than 25 percent; (ii) The iron, steel, and /or manufactured good is not produced, or manufactured in the United States in sufficient and reasonably available commercial quantities of a satisfactory quality; or (iii) The application of the restriction of section 1605 of the Recovery Act would be inconsistent with the public interest. • (c) Request for determination of inapplicability of section 1605 of the Recovery Act or the Buy American Act. 19 • • DE- EE0003798/000 Eagle County, CO (1)(i) Any recipient request to use foreign iron, steel, and/or manufactured goods in • acco ance with paragraph (b)(4) of this section shall include adequate information for Fede 1 Government evaluation of the request, including -- (A) description of the foreign and domestic iron, steel, and /or manufactured goods; (B) nit of measure; (C) uantity; (D) ost; (E) Time of delivery or availability; (F) L3cation of the project; (G) Name and address of the proposed supplier; and (H) detailed justification of the reason for use of foreign iron, steel, and /or manufactured good cited in accordance with paragraph (b)(4) of this section. (ii) request based on unreasonable cost shall include a reasonable survey of the market and a co pleted cost comparison table in the format in paragraph (d) of this section. III (iii) he cost of iron, steel, or manufactured goods shall include all delivery costs to the cons ction site and any applicable duty. (iv) ny recipient request for a determination submitted after Recovery Act funds have been obligated for a project for construction, alteration, maintenance, or repair shall explain why the recipient could not reasonably foresee the need for such determination and could not have requested the determination before the funds were obligated. If the recipient does not submit a satisfactory explanation, the award official need not make a determination. (2) If the Federal Government determines after funds have been obligated for a project for construction, alteration, maintenance, or repair that an exception to section 1605 of the Recovery Act applies, the award official will amend the award to allow use of the foreign iron, 'steel, and/or relevant manufactured goods. When the basis for the exception is nona ailability or public interest, the amended award shall reflect adjustment of the award amo nt, redistribution of budgeted funds, and/or other appropriate actions taken to cover costs associated with acquiring or using the foreign iron, steel, and /or relevant manufactured good . When the basis for the exception is the unreasonable cost of the domestic iron, steel, or manufactured goods, the award official shall adjust the award amount or redistribute budgeted funds, as appropriate, by at least the differential established in 2 CFR 176.110(a). I (3) Unless the Federal Government determines that an exception to section 1605 of the III Recovery Act applies, use of foreign iron, steel, and /or manufactured goods other than 20 • DE- EE0003798/000 Eagle County, CO • designated country iron, steel, and /or manufactured goods is noncompliant with the applicable Act. (d) Data. To permit evaluation of requests under paragraph (b) of this section based on unreasonable cost, the applicant shall include the following information and any applicable supporting data based on the survey of suppliers: Foreign and Domestic Items Cost Comparison Cost Description Unit of measure Quantity (dollars)* Item 1: Foreign steel, iron, or manufactured good Domestic steel, iron, or manufactured good Item 2: Foreign steel, iron, or manufactured good Domestic steel, iron, or manufactured good [List name, address, telephone number, email address, and contact for suppliers surveyed. • Attach copy of response; if oral, attach summary.] [Include other applicable supporting information.] [ *Include all delivery costs to the construction site.] 27. WAGE RATE REQUIREMENTS UNDER SECTION 1606 OF THE RECOVERY ACT (a) Section 1606 of the Recovery Act requires that all laborers and mechanics employed by contractors and subcontractors on projects funded directly by or assisted in whole or in part by and through the Federal Government pursuant to the Recovery Act shall be paid wages at rates not less than those prevailing on projects of a character similar in the locality as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of title 40, United States Code. Pursuant to Reorganization Plan No. 14 and the Copeland Act, 40 U.S.C. 3145, the Department of Labor has issued regulations at 29 CFR parts 1, 3, and 5 to implement the Davis -Bacon and related Acts. Regulations in 29 CFR 5.5 instruct agencies concerning application of the standard Davis -Bacon contract clauses set forth in that section. Federal agencies providing grants, cooperative agreements, and loans under the Recovery Act shall • ensure that the standard Davis -Bacon contract clauses found in 29 CFR 5.5(a) are incorporated in any resultant covered contracts that are in excess of $2,000 for construction, alteration or repair (including painting and decorating). 21 • • DE- EE0003798/000 Eagle County, CO (b) For additional guidance on the wage rate requirements of section 1606, contact your III awarding agency. Recipients of grants, cooperative agreements and loans should direct their initial inquiries concerning the application of Davis -Bacon requirements to a particular federally assisted project to the Federal agency funding the project. The Secretary of Labor retairs final coverage authority under Reorganization Plan Number 14. 28. RECOVERY ACT TRANSACTIONS LISTED IN SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND RECIPIENT RESPONSIBILITIES FOR INFORMING SUBRECIPIENTS (a) To maximize the transparency and accountability of funds authorized under the American Recovery and Reinvestment Act of 2009 (Pub. L. 111 -5) (Recovery Act) as required by Conress and in accordance with 2 CFR 215.21 "Uniform Administrative Requirements for Grants and Agreements" and OMB Circular A -102 Common Rules provisions, recipients agree to maintain records that identify adequately the source and application of Recovery Act funds. OMB Circular A -102 is available at http://www.whitehouse.gov/omb/circulars/a102/a102.html. (b) F )r recipients covered by the Single Audit Act Amendments of 1996 and OMB Circular A -1 "Audits of States, Local Governments, and Non -Profit Organizations," recipients agree to separately identify the expenditures for Federal awards under the Recovery Act on the S hedule of Expenditures of Federal Awards (SEFA) and the Data Collection Form (SF— SAC required by OMB Circular A -133. OMB Circular A -13.3 is available at III http: www.whitehouse.gov /omb /circulars /a133 /a133.html. This shall be accomplished by iden fying expenditures for Federal awards made under the Recovery Act separately on the SEF , and as separate rows under Item 9 of Part III on the SF —SAC by CFDA number, and inclu ion of the prefix "ARRA -" in identifying the name of the Federal program on the SEF and as the first characters in Item 9d of Part III on the SF —SAC. (c) R cipients agree to separately identify to each subrecipient, and document at the time of subaward and at the time of disbursement of funds, the Federal award number, CFDA num er, and amount of Recovery Act funds. When a recipient awards Recovery Act funds for a existing program, the information furnished to subrecipients shall distinguish the subs ards of incremental Recovery Act funds from regular subawards under the existing pro am. (d) cipients agree to require their subrecipients to include on their SEFA information to spec' ically identify Recovery Act funding similar to the requirements for the recipient SEFA desc 'bed above. This information is needed to allow the recipient to properly monitor subrecipient expenditure of ARRA funds as well as oversight by the Federal awarding agencies, Offices of Inspector General and the Government Accountability Office. III 22 • • DE- EE0003798/000 Eagle County, CO • 29. DAVIS -BACON ACT AND CONTRACT WORKHOURS AND SAFETY STANDARD ACT Definitions: For purposes of this provision, "Davis Bacon Act and Contract Work Hours and Safety Standards Act," the following definitions are applicable: (1) "Award" means any grant, cooperative agreement or technology investment agreement made with Recovery Act funds by the Department of Energy (DOE) to a Recipient. Such Award must require compliance with the labor standards clauses and wage rate requirements of the Davis -Bacon Act (DBA) for work performed by all laborers and mechanics employed by Recipients (other than a unit of State or local government whose own employees perform the construction) Subrecipients, Contractors, and subcontractors. (2) "Contractor" means an entity that enters into a Contract. For purposes of these clauses, Contractor shall include (as applicable) prime contractors, Recipients, Subrecipients, and Recipients' or Subrecipients' contractors, subcontractors, and lower - tier subcontractors. "Contractor" does not mean a unit of State or local government where construction is performed by its own employees." (3) "Contract" means a contract executed by a Recipient, Subrecipient, prime contractor, or any tier subcontractor for construction, alteration, or repair. It may also • mean (as applicable) (i) financial assistance instruments such as grants, cooperative agreements, technology investment agreements, and loans; and, (ii) Sub awards, contracts and subcontracts issued under financial assistance agreements. "Contract" does not mean a financial assistance instrument with a unit of State or local government where construction is performed by its own employees. (4) "Contracting Officer" means the DOE official authorized to execute an Award on behalf of DOE and who is responsible for the business management and non - program aspects of the financial assistance process. (5) "Recipient" means any entity other than an individual that receives an Award of Federal funds in the form of a grant, cooperative agreement, or technology investment agreement directly from the Federal Government and is financially accountable for the use of any DOE funds or property, and is legally responsible for carrying out the terms and conditions of the program and Award. (6) "Subaward" means an award of financial assistance in the form of money, or property in lieu of money, made under an award by a Recipient to an eligible Subrecipient or by a Subrecipient to a lower -tier subrecipient. The term includes financial assistance when provided by any legal agreement, even if the agreement is called a contract, but does not include the Recipient's procurement of goods and services to carry out the program nor does it include any form of assistance which is excluded from the definition of "Award" above. 23 • DE- EE0003798/000 • Eagle County, CO (7) "Subrecipient" means a non - Federal entity that expends Federal funds received • from a Recipient to carry out a Federal program, but does not include an individual that is a beneficiary of such a program. (a) Davis Bacon Act (1) Minimum wages. (i) All laborers and mechanics employed or working upon the site of the work (or under the United States Housing Act of 1937 or under the Housing Act of 1949 in the construction or development of the project), will be paid unconditionally and not less often than once a week, and, without subsequent deduction or rebate on any account (except such payroll deductions as are permitted by regulations issued by the Secretary of Labor under the Copeland Act (29 CFR part 3)), the full amount of wages and bona fide fringe benefits (or cash equivalents thereof) due at time of payment computed at rates not less than those contained in the wage determination of the Secretary of Labor which is attached hereto and made a part hereof, regardless of any contractual relationship which may be alleged to exist between the Contractor and such laborers and mechanics. Contributions made or costs reasonably anticipated for bona fide fringe benefits under section 1(b)(2) of the Davis -Bacon Act on behalf of laborers or mechanics are considered wages paid to such laborers or mechanics, subject to the provisions of paragraph (a)(1)(iv) of this section; also, regular contributions made or costs incurred for more than a weekly period (but not less often than quarterly) under plans, funds, or programs which cover the particular weekly period, are deemed to be constructively made or incurred during such weekly period. Such laborers and mechanics shall be paid the appropriate wage rate and fringe benefits on the wage determination for the classification of work actually performed, without regard to skill, except as provided in § 5.5(a)(4). Laborers or mechanics performing work in more than one classification may be compensated at the rate specified for each classification for the time actually worked therein, provided that the employer's payroll records accurately set forth the time spent in each classification in which work is performed. The wage determination (including any additional classification and wage rates conformed under paragraph (a)(1)(ii) of this section) and the Davis -Bacon poster (WH -1321) shall be posted at all times by the Contractor and its subcontractors at the site of the work in a prominent and accessible place where it can be easily seen by the workers. (ii)(A) The Contracting Officer shall require that any class of laborers or mechanics, including helpers, which is not listed in the wage determination and which is to be employed under the Contract shall be classified in conformance with the wage determination. The Contracting Officer shall approve an additional classification and wage rate and fringe benefits therefore only when the following criteria have been met: • 24 • • DE- EE0003798/000 Eagle County, CO • (1) The work to be performed by the classification requested is not performed by a classification in the wage determination; (2) The classification is utilized in the area by the construction industry; and (3) The proposed wage rate, including any bona fide fringe benefits, bears a reasonable relationship to the wage rates contained in the wage determination. (B) If the Contractor and the laborers and mechanics to be employed in the classification (if known), or their representatives, and the Contracting Officer agree on the classification and wage rate (including the amount designated for fringe benefits where appropriate), a report of the action taken shall be sent by the Contracting Officer to the Administrator of the Wage and Hour Division, U.S. Department of Labor, Washington, DC 20210. The Administrator, or an authorized representative, will approve, modify, or disapprove every additional classification action within 30 days of receipt and so advise the Contracting Officer or will notify the Contracting Officer within the 30 -day period that additional time is necessary. (C) In the event the Contractor, the laborers or mechanics to be employed in • the classification or their representatives, and the Contracting Officer do not agree on the proposed classification and wage rate (including the amount designated for fringe benefits, where appropriate), the Contracting Officer shall refer the questions, including the views of all interested parties and the recommendation of the Contracting Officer, to the Administrator for determination. The Administrator, or an authorized representative, will issue a determination within 30 days of receipt and so advise the Contracting Officer or will notify the Contracting Officer within the 30 -day period that additional time is necessary. (D) The wage rate (including fringe benefits where appropriate) determined pursuant to paragraphs (a)(1)(ii)(B) or (C) of this section, shall be paid to all workers performing work in the classification under this Contract from the first day on which work is performed in the classification. (iii) Whenever the minimum wage rate prescribed in the Contract for a class of laborers or mechanics includes a fringe benefit which is not expressed as an hourly rate, the Contractor shall either pay the benefit as stated in the wage determination or shall pay another bona fide fringe benefit or an hourly cash equivalent thereof. (iv) If the Contractor does not make payments to a trustee or other third person, • the Contractor may consider as part of the wages of any laborer or mechanic the amount of any costs reasonably anticipated in providing bona fide fringe benefits 25 • DE- EE0003798/000 Eagle County, CO under a plan or program, provided that the Secretary of Labor has found, upon the • written request of the Contractor, that the applicable standards of the Davis -Bacon Act have been met. The Secretary of Labor may require the Contractor to set aside in a separate account assets for the meeting of obligations under the plan or program. (2) Withholding. The Department of Energy or the Recipient or Subrecipient shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld from the Contractor under this Contract or any other Federal contract with the same prime contractor, or any other federally- assisted c ontract subject to Davis -Bacon prevailing wage requirements, which is held by the same prime contractor, so much of the accrued payments or advances as may be considered necessary to pay laborers and mechanics, including apprentices, trainees, and helpers, employed by the Contractor or any subcontractor the full amount of wages required by the Contract. In the event of failure to pay any laborer or mechanic, including any aiprentice, trainee, or helper, employed or working on the site of the work (or under the United States Housing Act of 1937 or under the Housing Act of 1949 in the construction or development of the project), all or part of the wages required by the Contract, the Department of Energy, Recipient, or Subrecipient, may, after written notice to the ontractor, sponsor, applicant, or owner, take such action as may be necessary to cause t e suspension of any further payment, advance, or guarantee of funds until such olations have ceased. (3) Payrolls and basic records. (i) Payrolls and basic records relating thereto shall be maintained by the Contractor during the course of the work and preserved for a period of three years thereafter for all laborers and mechanics working at the site of the work (or under the United States Housing Act of 1937, or under the Housing Act of 1949, in the construction or development of the project). Such records shall contain the name, address, and social security number of each such worker, his or her correct classification, hourly rates of wages paid (including rates of contributions or costs anticipated for bona fide fringe benefits or cash equivalents thereof of the types described in section 1(b)(2)(B) of the Davis -Bacon Act), daily and weekly number of hours worked, deductions made, and actual wages paid. Whenever the Secretary of Labor has found under 29 CFR 5.5(a)(1)(iv) that the wages of any laborer or mechanic include the amount of any costs reasonably anticipated in providing benefits under a plan or program described in section 1(b)(2)(B) of the Davis -Bacon Act, the Contractor shall maintain records which show that the commitment to provide such benefits is enforceable, that the plan or program is financially responsible, and that the plan or program has been communicated in writing to the laborers or mechanics affected, and records which show the costs anticipated or the actual cost incurred in providing such benefits. Contractors employing apprentices or trainees under approved programs shall maintain written evidence of the registration of apprenticeship programs and certification • 26 • DE- EE0003798/000 Eagle County, CO • of trainee programs, the registration of the apprentices and trainees, and the ratios and wage rates prescribed in the applicable programs. (ii) (A) The Contractor shall submit weekly for each week in which any Contract work is performed a copy of all payrolls to the Department of Energy if the agency is a party to the Contract, but if the agency is not such a party, the Contractor will submit the payrolls to the Recipient or Subrecipient (as applicable), applicant, sponsor, or owner, as the case may be, for transmission to the Department of Energy. The payrolls submitted shall set out accurately and completely all of the information required to be maintained under 29 CFR 5.5(a)(3)(i), except that full social security numbers and home addresses shall not be included on weekly transmittals. Instead, the payrolls shall only need to include an individually identifying number for each employee (e.g., the last four digits of the employee's social security number). The required weekly payroll information may be submitted in any form desired. Optional Form WH -347 is available for this purpose from the Wage and Hour Division Web site at http: / /www.dol.gov /esa/whd /forms /wh347instr.htm or its successor site. The prime Contractor is responsible for the submission of copies of payrolls by all subcontractors. Contractors and subcontractors shall maintain the full social security number and current address of each covered worker, and shall provide them upon request to the Department of Energy if the agency is a party to the Contract, but if the agency is not such a party, the Contractor will • submit them to the Recipient or Subrecipient (as applicable), applicant, sponsor, or owner, as the case may be, for transmission to the Department of Energy, the Contractor, or the Wage and Hour Division of the Department of Labor for purposes of an investigation or audit of compliance with prevailing wage requirements. It is not a violation of this section for a prime contractor to require a subcontractor to provide addresses and social security numbers to the prime contractor for its own records, without weekly submission to the sponsoring government agency (or the Recipient or Subrecipient (as applicable), applicant, sponsor, or owner). (B) Each payroll submitted shall be accompanied by a "Statement of Compliance," signed by the Contractor or subcontractor or his or her agent who pays or supervises the payment of the persons employed under the Contract and shall certify the following: (1) That the payroll for the payroll period contains the information required to be provided under § 5.5 (a)(3)(ii) of Regulations, 29 CFR part 5, the appropriate information is being maintained under § 5.5 (a)(3)(i) of Regulations, 29 CFR part 5, and that such information is correct and complete; (2) That each laborer or mechanic (including each helper, apprentice, and • trainee) employed on the Contract during the payroll period has been paid the full weekly wages earned, without rebate, either directly or indirectly, 27 • • DE- EE0003798/000 Eagle County, CO and that no deductions have been made either directly or indirectly from 110 the full wages earned, other than permissible deductions as set forth in Regulations, 29 CFR part 3; (3) That each laborer or mechanic has been paid not less than the applicable wage rates and fringe benefits or cash equivalents for the classification of work performed, as specified in the applicable wage determination incorporated into the Contract. (C) The weekly submission of a properly executed certification set forth on the reverse side of Optional Form WH -347 shall satisfy the requirement for submission of the "Statement of Compliance" required by paragraph (a)(3)(ii)(B) of this section. (D) The falsification of any of the above certifications may subject the Contractor or subcontractor to civil or criminal prosecution under section 1001 of title 18 and section 3729 of title 31 of the United States Code. (iii) The Contractor or subcontractor shall make the records required under paragraph (a)(3)(i) of this section available for inspection, copying, or transcription by authorized representatives of the Department of Energy or the Department of Labor, and shall permit such representatives to interview employees during working hours on the job. If the Contractor or subcontractor • fails to submit the required records or to make them available, the Federal agency may, after written notice to the Contractor, sponsor, applicant, or owner, take such action as may be necessary to cause the suspension of any further payment, advance, or guarantee of funds. Furthermore, failure to submit the required records upon request or to make such records available may be grounds for debarment action pursuant to 29 CFR 5.12. (4) Apprentices and trainees — (i) Apprentices. Apprentices will be permitted to work at less than the predetermined rate for the work they performed when they are employed pursuant to and individually registered in a bona fide apprenticeship program registered with the U.S. Department of Labor, Employment and Training Administration, Office of Apprenticeship Training, Employer and Labor Services, or with a State Apprenticeship Agency recognized by the Office, or if a person is employed in his or her first 90 days of probationary employment as an apprentice in such an apprenticeship program, who is not individually registered in the program, but who has been certified by the Office of Apprenticeship Training, Employer and Labor Services or a State Apprenticeship Agency (where appropriate) to be eligible for probationary employment as an apprentice. The allowable ratio of apprentices to journeymen on the job site in any craft classification shall not be greater than the ratio permitted to the Contractor as to the entire work force under • the registered program. Any worker listed on a payroll at an apprentice wage rate, 28 • • DE- EE0003798/000 Eagle County, CO . who is not registered or otherwise employed as stated above, shall be paid not less than the applicable wage rate on the wage determination for the classification of work actually performed. In addition, any apprentice performing work on the job site in excess of the ratio permitted under the registered program shall be paid not less than the applicable wage rate on the wage determination for the work actually performed. Where a Contractor is performing construction on a project in a locality other than that in which its program is registered, the ratios and wage rates (expressed in percentages of the journeyman's hourly rate) specified in the Contractor's or subcontractor's registered program shall be observed. Every apprentice must be paid at not less than the rate specified in the registered program for the apprentice's level of progress, expressed as a percentage of the journeymen hourly rate specified in the applicable wage determination. Apprentices shall be paid fringe benefits in accordance with the provisions of the apprenticeship program. If the apprenticeship program does not specify fringe benefits, apprentices must be paid the full amount of fringe benefits listed on the wage determination for the applicable classification. If the Administrator determines that a different practice prevails for the applicable apprentice classification, fringes shall be paid in accordance with that determination. In the event the Office of Apprenticeship Training, Employer and Labor Services, or a • State Apprenticeship Agency recognized by the Office, withdraws approval of an apprenticeship program, the Contractor will no longer be permitted to utilize apprentices at less than the applicable predetermined rate for the work performed • until an acceptable program is approved. (ii) Trainees. Except as provided in 29 CFR 5.16, trainees will not be permitted to work at less than the predetermined rate for the work performed unless they are employed pursuant to and individually registered in a program which has received prior approval, evidenced by formal certification by the U.S. Department of Labor, Employment and Training Administration. The ratio of trainees to journeymen on the job site shall not be greater than permitted under the plan approved by the Employment and Training Administration. Every trainee must be paid at not less than the rate specified in the approved program for the trainee's level of progress, expressed as a percentage of the journeyman hourly rate specified in the applicable wage determination. Trainees shall be paid fringe benefits in accordance with the provisions of the trainee program. If the trainee program does not mention fringe benefits, trainees shall be paid the full amount of fringe benefits listed on the wage determination unless the Administrator of the Wage and Hour Division determines that there is an apprenticeship program associated with the corresponding journeyman wage rate on the wage determination which provides for less than full fringe benefits for apprentices. Any employee listed on the payroll at a trainee rate who is not registered and participating in a training plan approved by the Employment and Training Administration shall be paid not less than the applicable wage rate on the wage determination for the classification of work actually performed. In addition, any • trainee performing work on the job site in excess of the ratio permitted under the registered program shall be paid not less than the applicable wage rate on the 29 • DE- EE0003798/000 Eagle County, CO wage determination for the work actually performed. In the event the • Employment and Training Administration withdraws approval of a training program, the Contractor will no longer be permitted to utilize trainees at less than the applicable predetermined rate for the work performed until an acceptable program is approved. (iii) Equal employment opportunity. The utilization of apprentices, trainees, and journeymen under this part shall be in conformity with the equal employment opportunity requirements of Executive Order 11246, as amended and 29 CFR part 30. ( ° ) Compliance with Copeland Act requirements. The Contractor shall comply with the requirements of 29 CFR part 3, which are incorporated by reference in this Contract. (6) Contracts and Subcontracts. The Recipient, Subrecipient, the Recipient's, and S ibrecipient's contractors and subcontractor shall insert in any Contracts the clauses contained herein in(a)(1) through (10) and such other clauses as the Department of E ergy may by appropriate instructions require, and also a clause requiring the s bcontractors to include these clauses in any lower tier subcontracts. The Recipient shall b responsible for the compliance by any subcontractor or lower tier subcontractor with a of the paragraphs in this clause. ( ) Contract termination: debarment. A breach of the Contract clauses in 29 CFR 5.5 may • b grounds for termination of the Contract, and for debarment as a contractor and a s bcontractor as provided in 29 CFR 5.12. ( ) Compliance with Davis -Bacon and Related Act requirements. All rulings and i terpretations of the Davis -Bacon and Related Acts contained in 29 CFR parts 1, 3, and 5 are herein incorporated by reference in this Contract. (9) Disputes concerning labor standards. Disputes arising out of the labor standards provisions of this Contract shall not be subject to the general disputes clause of this Contract. Such disputes shall be resolved in accordance with the procedures of the Department of Labor set forth in 29 CFR parts 5, 6, and 7. Disputes within the meaning o this clause include disputes between the Recipient, Subrecipient, the Contractor (or . y of its subcontractors), and the contracting agency, the U.S. Department of Labor, or t e employees or their representatives. ( 0) Certification of eligibility. (i) By entering into this Contract, the Contractor certifies that neither it (nor he or she) nor any person or firm who has an interest in the Contractor's firm is a person or firm ineligible to be awarded Government contracts by virtue of section 3(a) of the Davis -Bacon Act or 29 CFR 5.12(a)(1). II/ 30 DE- EE0003798/000 Eagle County, CO • (ii) No part of this Contract shall be subcontracted to any person or firm ineligible for award of a Government contract by virtue of section 3(a) of the Davis -Bacon Act or 29 CFR 5.12(a)(1). (iii) The penalty for making false statements is prescribed in the U.S. Criminal Code, 18 U.S.C. 1001. (b) Contract Work Hours and Safety Standards Act. As used in this paragraph, the terms laborers and mechanics include watchmen and guards. (1) Overtime requirements. No Contractor or subcontractor contracting for any part of the Contract work which may require or involve the employment of laborers or mechanics shall require or permit any such laborer or mechanic in any workweek in which he or she is employed on such work to work in excess of forty hours in such workweek unless such laborer or mechanic receives compensation at a rate not less than one and one -half times the basic rate of pay for all hours worked in excess of forty hours in such workweek. (2) Violation; liability for unpaid wages; Liquidated damages. In the event of any violation of the clause set forth in paragraph (b)(1) of this section, the Contractor and any subcontractor responsible therefor shall be liable for the unpaid wages. In addition, such Contractor and subcontractor shall be liable to the United States (in the case of work done under contract for the District of Columbia or a territory, to such District or to such • territory), for liquidated damages. Such liquidated damages shall be computed with respect to each individual laborer or mechanic, including watchmen and guards, employed in violation of the clause set forth in paragraph (b)(1) of this section, in the sum of $10 for each calendar day on which such individual was required or permitted to work in excess of the standard workweek of forty hours without payment of the overtime wages required by the clause set forth in paragraph (b)(1) of this section. (3) Withholding for unpaid wages and liquidated damages. The Department of Energy or the Recipient or Subrecipient shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld, from any moneys payable on account of work performed by the Contractor or subcontractor under any such contract or any other Federal contract with the same prime Contractor, or any other federally- assisted contract subject to the Contract Work Hours and Safety Standards Act, which is held by the same prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of such Contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in paragraph (b)(2) of this section. (4) Contracts and Subcontracts. The Recipient, Subrecipient, and Recipient's and Subrecipient's contractor or subcontractor shall insert in any Contracts, the clauses set forth in paragraph (b)(1) through (4) of this section and also a clause requiring the subcontractors to include these clauses in any lower tier subcontracts. The Recipient shall be responsible for compliance by any subcontractor or lower tier subcontractor with the • clauses set forth in paragraphs (b)(1) through (4) of this section. 31 DE- EE0003798/000 Eagle County, CO (5.) The Contractor or subcontractor shall maintain payrolls and basic payroll records 1111 during the course of the work and shall preserve them for a period of three years from the completion of the Contract for all laborers and mechanics, including guards and 1 atchmen, working on the Contract. Such records shall contain the name and address of e ch such employee, social security number, correct classifications, hourly rates of wages p id, daily and weekly number of hours worked, deductions made, and actual wages paid. e records to be maintained under this paragraph shall be made available by the retractor or subcontractor for inspection, copying, or transcription by authorized representatives of the Department of Energy and the Department of Labor, and the • . ntractor or subcontractor will permit such representatives to interview employees d ring working hours on the job. (c) Reci ' ient Responsibilities for Davis Bacon Act ( ) On behalf of the Department of Energy (DOE), Recipient shall perform the following nctions: (i) Obtain, maintain, and monitor all Davis Bacon Act (DBA) certified payroll records submitted by the Subrecipients and Contractors at any tier under this Award; (ii) Review all DBA certified payroll records for compliance with DBA requirements, including applicable DOL wage determinations; III (iii) Notify DOE of any non - compliance with DBA requirements by Subrecipients or Contractors at any tier, including any non - compliances identified as the result of reviews performed pursuant to paragraph (ii) above; (iv) Address any Subrecipient and any Contractor DBA non - compliance issues; if DBA non - compliance issues cannot be resolved in a timely manner, forward complaints, summary of investigations and all relevant information to DOE; (v) Provide DOE with detailed information regarding the resolution of any DBA non - compliance issues; (vi) Perform services in support of DOE investigations of complaints filed regarding noncompliance by Subrecipients and Contractors with DBA requirements; (vii) Perform audit services as necessary to ensure compliance by Subrecipients and Contractors with DBA requirements and as requested by the Contracting Officer; and (viii) Provide copies of all records upon request by DOE or DOL in a timely manner. Ill 32 • • DE- EE0003798/000 Eagle County, CO • (d) Rates of Wages The prevailing wage rates determined by the Secretary of Labor can be found at http: / /www.wdol.gov /. • • 33 • • • EXHIBIT A: ENERGY SMART PARTNER'S COMPLIANCE& LOAN SERVICING STANDARDS DOCUMENTATION AND UNDERWRITING CRITERIA A. CONTRACTUAL LOAN SERVICES 1. Documentation Requirements —The loan applicant is required to provide sufficient documentation to verify eligibility under the Program guidelines approved by the Eagle County. Such verifications may include, but are not limited to, financial capacity standards, income limitations, credit assessments, collateral quality and funds availability. Loan referral sources shall forward copies of all necessary documentation to ESP within a reasonable period prior to the scheduled closing date. ESP reserves the right to deny applications that lack sufficient documentation to render verification of eligibility or where sufficient time has not been afforded it to perform all duties required of it with available staff or capital resources. ESP Staff shall review documentation and either: approve the application, request further information, or decline the application. Staff shall issue a final determination in writing to the applicant within a reasonable period of time, specifying the approved loan amount, all terms and provisions of the credit offer and any documentation requirements prior to loan funding. The letter may be sent to the referral source and shared with the applicant to expedite the loan closing sequence. A complete loan file must include: • a. Application — Applicants shall complete, sign and date an application form provided by ESP, which form shall require sufficient detail to determine eligibility and adequately assess relevant characteristics of the credit request. Applicants shall acknowledge the right of ESP to verify as accurate and complete all information provided within the application and supporting documentation. Such right extends to third -party verifications, as deemed appropriate by ESP according to the Program and nature of the credit request. b. Income Verification — Applicants shall provide income and/or financial statements consistent with prevailing ESP standards. Analysis of such information will remain consistent with ESP programs unless otherwise specified within the relevant provisions of the Program. In all cases, income measurements shall be defined using prevailing median income statistics provided by the U.S. Department of Housing and Urban Development, as released annually for the market area served by the proposed project and as adjusted for household size. c. Supplemental Documentation — ESP shall collect additional documentation according to prevailing standards of similar ESP programs or as dictated by the Program pursuant to Exhibit 1 of the Agreement. Collection and consideration of all supplemental documentation shall conform to fair credit statutes and ethical business standards. 2. Underwriting Analysis — Qualification for the Program shall be evaluated for reasonable debt capacity, adequacy of collateral and the provisions of Exhibit 1. Underwriting third -party programs will typically entail: a. Income /Revenue Determination — Applicants will be screened against minimum standards identified under the Program, utilizing techniques and formulas prevalent under similar ESP programs. At a minimum, applicants shall provide sufficient documentation to determine • current income through internally - prepared financial statements, federal tax returns, payroll EnergySmart Partners LLC May 8, 2012 Compliance & Loan Servicing Standards • • statements and/or contractual agreements. ESP reserves the right to require any and all income • documentation deemed appropriate to the credit request. Financial Capacity — As a result of the proposed financing applicants will be screened for reasonable capacity to hold and service the debt according to all terms described within the Program. ESP shall utilize techniques and formulas prevalent to similar ESP programs. In addition to the proposed debt, all other contractual obligations of the applicant shall be considered, including those disclosed by the applicant, verified through third- parties, public records and companion credit terms and conditions relevant to the proposed transaction. Single- payment items, taxes and discretionary obligations need not be considered unless otherwise noted under the Program. b. Collateral — The Program may require a grant of interest in real property owned or controlled by the applicant. ESP shall identify and assess the proposed collateral as compliant to established standards under the Program while taking reasonable caution to insure the collateral is not unduly burdened by prior claims that diminish the security interest taken in the Applicant's real property or evidence credit terms detrimental to the applicant's financial capacity. d. Loan Amount — Maximum loan amount standards shall be established by the Program as set forth in Exhibit 1. e. Borrower — All parties holding an ownership interest in the subject collateral property, as applicable, must be obligated on the Promissory Note and Security Interest assignment. Residential loans shall be issued to natural persons only. All signatories to the Program's loans must be of legal age and provide a valid Social Security Number (SSN). Consistency — All documentation used to underwrite a loan file shall be accurate and consistent with all other documentation within the file. • 3. Loan Approval — ESP shall have authorization to approve applications that meet all eligibility criteria established for the Program and as set forth in Exhibit 1. Loan applications that are declined or withdrawn shall be retained on file for period of two (2) years from the application date. E P reserves the right to deny funding under any program where the borrower or their agent is unable to learly demonstrate a valid purpose for the requested loan, or when elements of fraudulent activity ar discovered. Where applications are not compliant to the stated purpose or use of the requested pr gram, ESP retains the right to refer applicants to alternate financing sources. 4. Loan Funding — At such point that all underwriting conditions have been satisfied and in ac' ordance with timing requirements of performance contracts, ESP will provide a written detail of an conditions or documents necessary prior to executing the promissory note and related documents. To the extent practical, all loan documents utilized by ESP shall adequately protect the interests of the or anization while conforming to all applicable federal, state and local statutes. At a minimum, loan do , uments shall be reviewed for enforceability and compliance by qualified counsel at least annually. To the extent possible, the application referral source and/or borrower shall be provided copies of all do uments to be executed in advance of loan closing. The agent presenting the final loan documents sh. 1 assume responsibility for satisfying such requirements prior to issuing loan funds to any party. Al multi -page documents shall bear the initial(s) of all borrowers at the bottom of each page of the do ument, except where signature(s) are required. All persons holding title to the subject collateral pr perty, as listed on the Warranty Deed or transfer of ownership document, must also be ob gated on the Promissory Note and pledge their interest in the security through a deed of trust or applicable assignment. However, persons not taking ownership to the subject property may be • added as additional guarantors on the promissory Note. The loan package must include the following: EnergySmart Partners LLC May 8, 2012 Compliance & Loan Servicing Standards • • a. Settlement Statement — Prepared by ESP, dependent upon the loan to be made under the terms of the Program. ESP shall review the statement in advance of closing to verify completeness and accuracy of all entries. ESP shall be listed as a lender for the full and correct loan amount, with all applicable loan fees listed by category. The file copy shall carry signatures of all parties to the transaction. b. Promissory Note — ESP shall prepare and review for accuracy a Promissory Note (Note) to be executed by borrower(s) at loan closing. The terms of the approved loan shall be accurately reflected on the appropriate Note form. c. Deed of Trust or Collateral Assignment — ESP shall prepare and review for accuracy a Deed of Trust or applicable assignment form that reflects exact terms and titles shown on the Promissory Note. ESP or an approved Notary Public shall be employed to notarize and record the executed document with the appropriate public office. If applicable, all necessary riders to the Deed of Trust will be prepared and executed in a similar manner. d. Federal Truth In Lending Notice and Other Applicable Disclosures — ESP shall prepare applicable disclosures of loan terms, sample calculations and other relevant conditions or provisions of the loan program, submitted as part of the final loan package. e. Loan Proceeds Within a reasonable timeframe prior to the scheduled loan closing, ESP shall set up a wire transfer to the bank account of the Contractor or Borrower in the amount of loan, less any fees to be collected from borrower and payable to ESP. Where an ESP Staff representative is present at loan closing, a cashier's check may be drawn for the amount of the loan and made payable to the Contractor or borrower. 5. Post Closing Procedures — Within a reasonable time period of loan closing, ESP must conduct a • complete review of the loan file to insure all documents are correct, complete, and compliant with all ESP underwriting standards and secured in the permanent loan file. The live note shall be placed in safe deposit with a financial institution, while the recorded Deed of Trust or collateral assignment shall be securely maintained in the file. Additionally, ESP will assume responsibility for monitoring: a. Receipt of recorded documents — Within 60 days of loan closing, ESP should be in receipt of the all recorded documents. If not received, ESP will contact the appropriate public office to determine if the instrument has been received, recorded, or subject to processing delays. If recording has been delayed, an appropriate follow up period will be established. If recorded more than 15 business days prior, ESP shall request the public office perform a document search and report their findings within 10 days of such request. If not received within such time, ESP shall request a certified copy of the document and forwarded by registered delivery from escrow agent of record. If the document has not been received by the public office within 60 days, ESP shall contact the escrow agent to request a document search. Escrow agent shall be instructed to provide gap coverage under the title insurance policy, obtain new signatures on replacement documents, if necessary, and record the document at the earliest possibility. b. Receipt of post closing verifications, compliance reports, work completion notices or similar documentation associated with the loan program. c. Loan Registration — Upon execution of the loan, ESP shall enter the new loan into the tracking system and establish follow -up dates for annual review, hazard insurance renewal and maturity notification. d. Document Retention — All documentation used to evaluate and/or service individual loan files will be retained in electronic and hard copy format for minimum of 4 years from the date of • final disposition. For loans that are denied or withdrawn for whatever reason, the date of disposition will be the date upon which the file was officially classified as cancelled. For loans that are originated, the date of final disposition will be the date of final and full repayment. EnergySmart Partners LLC May 8, 2012 Compliance & Loan Servicing Standards 0 Loans that are charged off as uncollectable shall be retained for the minimum period from the • date the file is returned from collection services as uncollectible. , The maximum retention period for all loan files shall be 5 years from the date of final disposition. II. PORTFOLIO MANAGEMENT A. 2ONTRACT LOAN SERVICES 1. Reporting, Risk and Compliance Review — Staff shall conduct ongoing review of outstanding loans to establish compliance with loan provisions, which may include periodic written or telephone co ntacts, review of public records, insurance or other notices and dialogue with other parties to the transaction. ESP reserves the right to accelerate payment or prescribe other reasonable measures sh )uld the borrower fail to comply with any such requirements. ES P shall prepare and present to Eagle County the following reports at least quarterly, more frequently as circumstances or contractual terms may dictate. a. Comprehensive Report — A complete accounting of all outstanding loans, sorted by jurisdiction and dedicated investment source, which details borrower name, family size, AMI percentage, loan amount, parental status and date of the loan. Total loans funded and available capital, if appropriate, shall also appear according to jurisdiction and dedicated investment source. b. Summary Report — A composite accounting of total program capital, funds invested, principal and interest recapture, loan loss, and aggregate loan characteristics. Compliance Report — A separate report shall be compiled by staff, independent auditors or the Executive Director to detail any incidence of non - compliance as such items are identified. The 11111 report shall contain detail of the issue of suspected non - compliance, any corrective actions taken or recommended and delivered to ESP management, as appropriate. ESP management is authorized to take further action or refer the matter to the Board of Trustees of its' parent organization for formal determination and further notice to affected parties. ESP management is required to provide a report to its parent Board of Trustees which identifies any issues of non- compliance, or attest to the absence of non - compliance, at least monthly. 2. Risk Rating and Loan Loss Reserves — Finance activity undertaken through contractual rel ttionships do not present capital exposure to ESP, by definition. While ESP does not assume direct capital exposure under contractual finance activities, indirect exposure is present in the form of errors, omissions and breach of fiduciary responsibility in performing duties detailed within the service agreement. Within the service agreement or as a matter of practice in the event such provision is not clearly established, ESP shall maintain minimum general liability insurance coverage in the amount of $1,000,000 per incident or $2,000,000 aggregate. Such a unts may be modified upward by action of ESP management. As deemed necessary, ESP may se coverage under a performance bond to further protect the interests of both the organization and Ea 1e County, though insurance remains the preferred risk mitigation vehicle. 3. L oan Repayment — According to all terms and provisions of the Program, Staff shall deliver an in ice to the borrower sufficiently prior to the payment due date to allow timely response. All pa ents received shall be applied to accrued interest, late fees then principal. Payments in excess of th invoice amount shall be applied as principal reduction. Should ESP determine the borrower is non- compliant with any of conditions or provisions expressed within the loan documents, borrower shall be instructed in writing to submit payment in full of outstanding principal and interest within thirty (30) days of the notice. 4. Loan Maturity Procedure — ESP shall deliver a final payment request and maturity notice to the III bo ower for an amount sufficient to retire all outstanding principal, interest and applicable fees prior Energy mart Partners LLC May 8, 2012 Compli nce & Loan Servicing Standards . • • to the scheduled maturity date. Upon final settlement, ESP shall extinguish the loan according to procedure noted as set forth herein after expiration of a reasonable payment hold period. 5. Delinquency — In all cases, payment of principal and interest are due no later than the close of business on payment date(s) specified within the loan documents, or by the date shown on the demand for payment noted in Par. 3. After such time, the loan shall be considered in default, with appropriate action taken to remedy the loan. Until the point when payment is sixty (60) days past due, ESP shall retain the ability to make all satisfactory arrangements for payment, including waiver of any penalties where appropriate. The following procedures shall be taken in cases of default: A. 10 days past due — A late payment notice is mailed to the borrower, reflecting the amount due, date of default and request for immediate payment. b. 30 days past due — A second notice shall be mailed to borrower and mandatory direct contact shall be performed. c. 60 days past due — ESP shall complete a full report that details the nature of all contact with borrower, any outstanding concerns of the borrower, and results of all discussions with borrower, its representatives and/or counsel. The report shall be submitted to Eagle County for informational purposes. d. 90 days past due — ESP management shall determine whether further collection activity is warranted based upon the nature of borrower representations, or lack thereof. If it is determined that further negotiation, loan modification, or other curative efforts are warranted ESP shall continue to hold the account in collection status and recognize an impairment of the asset for S accounting purposes. In the event ESP management determines further action by ESP is unlikely to resolve the delinquency, ESP shall cease loan service activity on the account and refer the item to a licensed professional agency in good standing with the State of Colorado for further collection action. Upon referral of the item, ESP shall recognize full impairment of the asset 7. Bankruptcy — Upon receipt of a notice of bankruptcy petition, all direct collection efforts with the borrower will cease. • EnergySmart Partners LLC May 8, 2012 Compliance & Loan Servicing Standards • . • EXHIBIT B: ENERGY SMART RESIDENTIAL ENERGY EFFICIENCY REVOLVING LOAN FUND CONTRACTOR AGREEMENT Now, on this day of , Energy Smart Partners LLC, a Colorado limited liability company ("ESP"), and , a contractor desiring to participate in the Energy Smart Residential Energy Efficiency Revolving Loan Fund Program ( "Contractor "), state the following: WHEREAS, Energy Smart Partners LLC, a Colorado limited liability company, as administrator of the Energy Smart Residential Energy Efficiency Revolving Loan Fund Program (the "Program "), as administrator of the revolving loan fund and accepting loan applications from the citizens of Eagle County, Pitkin County and Gunnison County; WHEREAS, the purpose of the Program is to assist in the funding of construction projects which make the borrower's homes more energy efficient and to create "green" construction jobs; WHEREAS, it is the goal of this program to improve the energy efficiency of 10% or 4100 homes in Eagle County, Pitkin County and Gunnison County by 20% through the utilization of the Program; WHEREAS, as a condition of participation in the Program, the contractor has agreed to • conduct a project to be funded by the Program; AGREEMENT NOW, THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS: 1. Tasks to be performed: As a participant in the Program, the Contractor shall: 1) submit their customer's loan application to ESP with an executed copy of the construction project contract, contingent upon financing, setting forth the work to be performed, the price for such work and the date by which the work will be completed. A check in the sum of $25.00 serving as a loan application fee shall also be delivered to ESP at the time of the submission of the loan application; 2) deliver to their customer the loan documents prepared for that customer's signature by ESP; 3) obtain from the customer the customer's executed loan documentation; and 4) deliver that loan documentation to ESP. Upon receipt of the loan proceeds, Contractor shall provide its executed lien waiver affidavit wherein the Contractors customer (Customer) now ESP's borrower (Borrower) shall acknowledge the amount paid to the contractor upon the loan settlement. The Contractor shall verify that all suppliers and /or subcontractors for the project are paid in full with no further recourse to the customer, and furnish lien waivers to that effect. 2. Representations: Contractor represents it shall perform all of its work for the customers according to local standards and in a good and workmanlike fashion within the agreed time frame • and, at its own cost and expense, furnish all items, articles, operations mentioned or herein specified, related labor services, tools, equipment, transportation and incidentals necessary and 1 • • required for satisfactory, acceptable completion of the agreed work or delivery of materials for or • to Customers as specified in the loan application documents and this agreement. Contractor shall do all things necessary in its sole discretion to perform work for Customers in the most diligent, expeditious and economical manner consistent with good workmanship, all applicable building codes, sound business practice, and reasonable precautions for safety. All work to be performed for Customers under this Agreement shall be coordinated in advance with the Customers and shall be performed only during such time periods as approved by such Customers. Contractor represents and warrants that it possesses the training, education, experience, skill, competence, licensing, certifications, and resources needed to properly perform the work for Customers as described in the loan application documents and related agreements. Contractor further acknowledges and understands that ESP will not oversee any aspect of the construction work and that this agreement is only for the benefit of Contractor's Customer. Contractor shall maintain complete and accurate records of all work performed through the Program. 2. Term of Agreement: This Agreement shall begin and become effective on the date of execution by the Contractor, as specified on the signature page. 3. Payment for Work Perforned: The terms and conditions of payment for work performed for a • Customer shall be solely between the Contractor and the Customer. Contractor shall not be paid by ESP without the express authorization of Customer and in no event shall ESP be liable for payment of any kind to Contractor for work performed pursuant to this Agreement. 4. Insurance Requirements: The Contractor shall procure and maintain at its own expense, the following kinds and minimum amounts of insurance for purposes of insuring the liability risks which the Contractor has assumed until this Agreement has expired or is terminated. The Contractor will be responsible for providing evidence of continued insurance when extending/renewing this Agreement: a. Commercial General Liability. This coverage should be provided on an ISO 1998 Form or most current with minimum limits of $600,000.00 combined single limit for each occurrence. b. Workers' Compensation and Employer's Liability. Workers' Compensation must be maintained with the statutory limits. Employer's Liability is required for minimum limits of $100,000.00 Each Accident /$500,000.00 Disease - Policy Limit /$100,000.00 Disease -Each Employee. c. Vehicle Insurance. Contractor shall at all times carry insurance on Contractor's vehicles in an amount not less than $300,000 per occurrence and $1,000,000 in the • aggregate. 2 • • The Contractor shall provide Certificates of Insurance for Contractor's Commercial General Liability Coverage and Workers' Compensation and Employer's Liability Coverage to the Customer. These Certificates of Insurance shall also contain a valid provision or endorsement that these policies may not be canceled, terminated, changed or modified without thirty (30) days written notice to the Borrower. 5. Training: Contractor agrees to maintain all permits, licensing, certifications required by any governmental agency with jurisdiction over the construction project. Contractor agrees to participate in any training program required for participation in the Program initially and from time to time. 6. ualit Assurance: ESP shall have no responsibility Q Y p hty to inspect or otherwise supervise work performed for a Borrower, which remains Contractor's obligation. 7. Remedy of Failure: Contractor shall, at its sole expense, immediately correct and remedy all defective work, damage or loss, caused in whole or in part by the direct or indirect act or omission of Contractor, its subcontractors, employees or agents, or for which Contractor is otherwise responsible. Contractor agrees to immediately remedy, at the Contractor's expense, any failure by the Contractor resulting in a serious health and safety issue. Any failure to comply • with other program requirements discovered during a quality assurance check must be remedied by the Contractor, at the Contractor's expense, within three (3) business days of reported failure. 8. Warranties: All materials and equipment furnished to Customers by Contractor shall be new and of first -class quality. Contractor agrees to warrant all work to the Customer to be free from defects for a minimum of one (1) year after the date such work is completed and accepted by the Customers (or such longer period as is industry custom or practice), and agrees to promptly correct, at Contractor's sole cost and expense, any defect discovered during such period. If an item of work for a Customer is defective or otherwise requires repair or correction, the aforesaid warranty shall not commence to run with respect to such item until after it is satisfactorily repaired, remedied and corrected. Contractor will also transfer and assign to Customers all warranties of subcontractors, materialmen, and manufacturers and suppliers of equipment used or installed in connection with any work for Customers, and will cooperate with Customers in the enforcement of such warranties; but the assignment of such warranties shall not relieve Contractor of its obligations under this Agreement. 9. Nondiscrimination: The Contractor agrees to comply with the letter and spirit of the Colorado Anti- Discrimination Act, C.R.S. § 24 -34 -401, et seq., as amended, and all applicable local, state and federal laws regarding discrimination and unfair employment practices. • 10. Nondiscrimination Provisions Binding on Subcontractors: In all solicitations by the Contractor 3 • • for any work related to this Agreement to be performed under a subcontract, either by competitive • bidding or negotiation, the Contractor shall notify each potential subcontractor of the Contractor's obligation. under this Agreement, and of all pertinent regulations relative to nondiscrimination and unfair em 1 loyment practices. 11. Term 1 ation of A a eement: ESP may terminate this Agreement: a. for cause (including, but not limited to: Contractor's failure to comply with the Program - quirements; Contractor's failure to perform any work for Customers with reasonable promptne • s and diligence; the bankruptcy, financial insecurity or insolvency of Contractor; or for any other 'reach of this Agreement); or b. at any time without cause, by giving thirty (30) -days' prior written notice to Contracto . 12. Inde nit : The Contractor shall be liable and responsible for any and all damages to persons or property • • used by or arising out of the actions, obligations, or omissions of the Contractor, its employee•, agents, representatives or other persons acting under the Contractor's direction or control in performing or failing to perform any work under the Program or this Agreement. The Contracto , will indemnify and hold harmless, ESP, its members, officers, employees, agents representa ives, and its contract parties in the Program (the "indemnified parties "), from any and all liability, c aims, demands, actions, damages, losses, judgments, costs or expenses, including but not • limited to attorneys' fees, which may be made or brought or which may result against any of the indemnifi:• parties as a result or on account of the actions or omissions of the Contractor, its employee-. agents or representatives, or other persons acting under the Contractor's direction or control. 13. LIMITATION OF DAMAGES: IN NO EVENT SHALL ESP, ALONG WITH THEIR AGENTS AND EMPLOYEES (OR ANY OF THE OFFICERS, TRUSTEES, DIRECTORS, PARTNE S, BENEFICIARIES, JOINT VENTURES, MEMBERS, STOCKHOLDERS OR OTHER RINCIPALS OR REPRESENTATIVES, AND THE LIKE, DISCLOSED OR UNDISC SED AND ITS CONTRACT PARTIES IN THE PROGRAM), EVER BE LIABLE TO CON RACTOR, BORROWER, OR ANY OTHER THIRD PARTY, FOR ANY DIRECT, INCIDEN AL, SPECIAL, INDIRECT, GENERAL OR CONSEQUENTIAL DAMAGES OR LOSS OF ANY NATURE (SUCH AS DAMAGE TO PROPERTY,, DAMAGES RESULTING FROM D LAY, CLAIMS OF THIRD PARTIES, LOSS OF PROFITS, OR INJURY TO PERSON) WHICH MAY ARISE IN CONNECTION WITH THIS AGREEMENT. THIS CLAUSE .HALL SURVIVE EXPIRATION OF THIS AGREEMENT. 14. Em • 1 I ee verification: The Contractor agrees to not knowingly employ or contract with an illegal alie to perform work under this Agreement. The Contractor shall not enter into a contract with a sub ontractor that fails to certify to the Contractor that the subcontractor shall not knowingly employ or ontract with an illegal alien to perform work under this Agreement. 15. Crimi al histo : Contractor assures that all existing and every new staff member working on III 4 • • • site do not have a criminal history background that could indicate that they might present a threat to residents or staff. Acceptable criminal background is no felony arrests or convictions within five years and no pattern of misdemeanors (three or more) within five years. 16. Safe Work Practices: Contractor agrees to meet OSHA and Department of Labor Requirements regarding personal protective equipment and safe work practices. Contractor agrees to comply with EPA requirements to become a Certified Lead Based Paint Renovation "Firm ", if applicable. 17. Independent Contractor: Contractor recognizes and agrees that Contractor is an independent contractor for all purposes, both legal and practical, in performing services under the Program, and that Contractor and its agents and employees are not agents or employees of ESP for any purpose. As an independent contractor, Contractor shall be responsible for employing and directing such personnel and agents as it requires to perform work for Customers under this the Program, shall exercise complete authority over its personnel and agents, and shall be fully responsible for their actions. Contractor acknowledges that it is not entitled to unemployment insurance benefits or workers' compensation benefits from ESP. Contractor is obligated to pay federal and state income tax on any monies earned pursuant to the Program or this Agreement. 18. Recovery Act Compliance: Contractor acknowledges that the Program is funded in whole or in part by the American Recovery and Reinvestment Act of 2009 (the "Act ") and that therefore ESP has certain reporting and compliance obligations. Contractor hereby agrees to take whatever actions are necessary to comply with, and to ensure ESP's compliance with, the requirements of the Act. ESP agrees to provide notice to Contractor of such requirements within a reasonable period of time, • as necessary to allow Contractor to report compliance. 19. Governing Law: The laws of the State of Colorado shall govern the interpretation and enforcement of this Agreement. Any litigation that may arise between the parties involving the interpretation or enforcement of the terms of this Agreement shall be initiated and pursued by the parties in the district courts of the State of Colorado and the applicable Colorado Appellate Courts. 20. Termination of Prior Agreements: This Agreement cancels and terminates, as of its effective date, all prior agreements between the Parties relating to the services covered by this Agreement, whether written or oral or partly written and partly oral. 21. Severability: If any provision of this Agreement is found to be invalid, illegal or unenforceable, the validity and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 22. Representation of Authority. Each person signing this Agreement represents and warrants that he or she is duly authorized and has legal capacity to execute and deliver this Agreement. Contractor represents and warrants to ESP that the execution and delivery of the Agreement and the performance of such party's obligations hereunder have been duly authorized and that the Agreement is a valid and legal agreement binding on the Contractor and enforceable in accordance with its terms. • 23. Contractor departure from Service: If Contractor wishes to leave the Program, Contractor agrees to provide written notice to ESP. 5 • IN WITNESS WHEREOF, the Contractor has set its hand and seal this day • of , 2012 CONTRACTOR: ENERGY SMART PARTNERS, LLC By: Email Address: Its: Email Address: • • 6 • • EXHIBIT C: ENERGYSMART RESIDENTIAL ENERGY EFFICIENCY PROGRAM HOMEOWNER STATEMENT OF UNDERSTANDING You have elected to participate in the Energy Smart Energy Efficiency Loan Program ( "the Program ") funded by a monetary grant to Eagle County, Pitkin County and Gunnison County ( "the Counties ") from the United States Department of Energy and administered by Energy Smart Partners, LLC ( "Lender "). As a part of your participation in the Program, you may receive a list of contractors who have expressed a desire to undertake energy efficient residential home improvement projects in Eagle, Pitkin and Gunnison Counties. You understand that neither the Lender nor the Counties are affiliated with or have considered and approved the capabilities of the contractors on this list. You acknowledge that you have not been required by the Lender or the Counties to utilize any of the contractors on the list as a prerequisite to your Participation in the Program and that you may select the contractor or contractors of your own choosing, so long as that contractor is willing to comply with the Program requirements for your project. You acknowledge that the contractors on the contractor list are independent contractors and that your relationship with them is separate and in no manner related to your relationship with Lender. You further state that in your selection of a contractor, you have not relied upon any representation, express or implied by the Lender or the Counties. - � YOU UNDERSTAND THAT NEITHER LENDER NOR THE COUNTIES PROVIDE ANY GUARANTEE WARRANTY, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND HABITALITY, WITH RESPECT TO YOUR HOME IMPROVEMENT PROJECT AND, WITHOUT LIMITATION, ANY GUARANTEE OR WARRANTY THAT THE PREMISES WILL MEET YOUR GOALS TO ACHIEVE ENERGY SAVINGS. YOU EXPRESSLY STATE THAT YOUR DECISION TO UNDERTAKE YOUR ENERGY EFFICIENCY PROJECT IS YOUR SOLE DECISION AND THAT YOU HAVE NOT RELIED UPON THE COUNTIES' ENERGY EFFICIENCY CALCULATORS OR ANY OTHER INFORMATION FURNISHED BY THE COUNTIES' ENERGYSMART RESIDENTIAL ENERGY EFFECIENCY PROGRAM. YOU AGREE THAT IN NO EVENT SHALL LENDER OR THE COUNTIES, THEIR AGENTS, EMPLOYEES, MEMBERS, MANAGERS OR OFFICERS, BE LIABLE FOR ANY ACTUAL, CONSEQUENTIAL, SPECIAL, INCIDENTAL OR INDIRECT DAMAGES ARISING FROM THE WORK PERFORMED BY YOUR CONTRACTOR. TO THE EXTENT PERMITTED BY LAW, ANY STATUTORY REMEDIES WHICH ARE INCONSISTENT WITH THE PROVISIONS OF THESE TERMS ARE WAIVED. You acknowledge that pursuant to the terms of the grant funding the Program, the Lender may have certain reporting and compliance obligations. You agree to provide, in a timely manner, such information regarding your project and its energy efficiency outcomes as the Lender may reasonably request. Further, you authorize the Lender to provide such financial information as it deems necessary to meet these reporting and compliance /Mitigation requirements to the Counties as well as the United States' Department of Energy. Providing past WI future utility usage data is an example of the information that might be requested of you. You acknowledge that because the Program is funded in whole or in part by a grant from the United States' Department of Energy, the requirements of Section 106 of the Historic Preservation Act are applicable to the Program. If your property is more than fifty years old or is currently listed on the State of Colorado or • • National Registe ° of Historic Places, approval to proceed by the Colorado Office of Archeology and Historic Places (OAHP) may be required for any upgrades. Furthermore, you consent to the submission of all • documentation, including photographs, to OAHP by the Service for the purpose of determining the property's historic preserva ;ion significance. ❑ My property is more than fifty years old, or is currently listed on the Colorado State or National Register of Historic Places. ❑ My property is located in a Historic District. By signing below, you indicate your understanding of the above stated terms. Name (Printed) Signature Date • • I • • Uniform Residential Loan Application This application is designed to be completed by the applicant(s) with the Lender's assistance. Applicants should complete this form as "Borrower" or "Co- Borrower," as applicable. Co- Borrower information must also be provided (and the appropriate box checked) when I 1 the income or assets of a person other than the Borrower (including the Borrower's spouse) will be used as a basis for loan qualification or I I the income or assets of the Borrower's spouse or other person who has • community property rights pursuant to state law wit not be used as a basis for loan qualification, but his or her liabilities must be considered because the spouse or other person has community property rights pursuant to applicable law and Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on other property located in a community property state as a basis for repayment of the loan. If this is an application for joint credit, Borrower and Co- Borrower each agree that we intend to apply for joint credit (sign below): Borrow er Co -Borrow er I. TYPE OF MORTGAGE AND TERMS OF LOAN Mortgage 1 I VA I 1 Conventional I I Other (explain): Agency Case Number Lender Case Number Applied for: I FHA I I USDA /Rural Housing Service Amount Interest Rate No. of Months Amortization 1 1 Fixed Rate 1 1 Other (explain): Type' I 1 GPM I I ARM (type): II. PROPERTY INFORMATION AND PURPOSE OF LOAN -- -- - - -- Subject Property Address (street, city, state & ZIP) 1 No of Units • Legal Description of Subject Property (attach description if necessary) Year Built 1 P rI Constructio L__ Other (explain): Ir�err d Y b e 1 1 Residence I I Investment Purpose of Loan 1 Purchase L Refinance 1 IConstruction- Permanent Complete this line if construction or construction - permanent loan. Year Lot Original Cost Amount Existing Liens (a) Present Value of Lot ' (b) Cost of Improvements Total (a . b) Acquired $ $ _ $ $ $ Complete this line if this is a refinance loan. Year Original Cost Amount Existing Liens Purpose of Refinance Describe r�l Acquired Improvements I I made C7 to be made $ $ _ Cost: $ Title will be held in what Name(s) Manner in which Title will be held Estate will be held in: L_J Fee Simple Source of Down Payment, Settlement Charges, and /or Subordinate Financing (explain) Li Leasehold (show - expiration date) Borrow or (11. BORROWER )NFORMATION Co- Borrower Borrower's Name (include Jr. or Sr. if applicable) Go- Borrower's Name (include Jr. or Sr. It applicable) Social Security Number Home Phone (incl. area code) DOB Yrs. Social Security Number Home Phone (incl. area code) DOB Yrs. (mm /dd /yyyy) School r- (mm /dd /yyyy) School ill C 7 Married C-] Unmarried (include single. Dependent L s (not listed by Co•Borrower) LJ Separated Married C Unmarried (include single. Dependents (not listed by Barrow er) divorced, widow ed) no. ages I divorce d. widow ed) 1 nm. � agea J Se. orated Present Address (street. city, state. ZIP) EJ Own C. J Rent No. Yrs. Present Address (street. city, state, ZIP) L J Own L_ Rent No. Yrs. Mailing Address, if different from Present Address Mailing Address, if different from Present Address • If residing at present address for less than two years, complete the following: — — — Former Address (street, city, state, ZIP) [] Own L. J Rent No. Yrs. Former Address (street. city. state. ZIP) I I Own L. _.1 Rent No. Yrs. Borrower IV, EMPLOYMENT INFORMATION Co Borrower Name & Address of Employer 1 Self Employed Yrs. on this job Name & Address of Employer I Sell Employed Yrs. on this job Yrs. emp(oyed in this line Yrs. employed in this line of work /profession of work /profession Position /Title /Type of Business Business Phone (incl. area code) Position /Title/ rype of Business Business Phone (incl. area code) if employed in current position for less than two years or if currently employed In more than one position, complete the following: Name & Address of Employer 1 1 Dates (from - to) Name & Address of Employer Self Employed I I Self Employed Dates (from - to) Monthly Income Monthly Income $ $ "osltton/ It a ype 0 :uslness Busin Phone (incl. area code) "osltton it a ype o =uslne55 Busin Phone (incl. area code) Name & Address of Employer f-1 Dates (from - to) Name Address o Em - Self Employed I Dt f t ( ) N & Add f Employer p y Cr Self Employed Dates (from - to) 410 Monthly Income Monthly Income $ 'osltton If a ype 0 = uslne55 Business Phone (incl. area code) 'OSltlon rte ype 0 :USIn SSS Business Phone (incl. area code) Uniform Residential Loan Application Fannie Mae Farm 1003 7105 Rev. 6/09 Fannie Mae /Freddie Mac Freddie Mac Form 65 7/05 (Re 6/09) W olter Kluw er Financial Services Y M P2 7 N (0907).01 Page 1 of 4 • • V. MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION Gross Morthlyincome Borrower Co- Borrower Total Combined Monthly Present Proposed • Houslnq Expense Base Em r1. Income* $ $ $ Rent $ Overtime First Mortgage (P &I) $ Bonuses Other Financing (P &I) 111 Commis: ons Hazard Insurance Dividend /Interest Real Estate Taxes Net Rental Income Mortgage Insurance Other (bef re completing, Homeowner Assn. Dues see the no ice in 'describe other income," below) Other: Total $ $ $ Total $ $ • Self Employed Borrower(s) may be required to provide additional documentation such as tax returns and financial statements. Describe Other income Notice: Alimony, child support, or separate maintenance income need not be revealed if the Borrower (B) B/C or Co-Bonower (C) does not choose to have it considered for repaying this loan. Monthly Amount $ VI. ASSETS AND LIABILITIES This Sta ement and any applicable supporting schedules may be completed jointly by both married and unmarried Co- Borrowers if their assets and liabilities are sufficien ly joined so that the Statement can be meaningfully and fanly presented on a combined basis; otherwise, separate Statements and Schedules are required. If the Co -B rrrower section was completed about a non - applicant spouse or other person, this Statement and supporting schedules must be completed about that spouse or other Jerson also. Completed I I Jointly I I Not Jointly Cash or Market Liabilities and Pledged Assets. List the creditor's name, address, and account number for all outstanding debts, ASSETS Value including automobile loans, revolving charge accounts. real estate loans, alimony, child support, stock pledges, etc. Descripti fn _ Use continuation sheet, if necessary. Indicate by it ) those liabilities, which will be satisfied upon sale of real estate — Cash deposit toward d purchase urchase held by: $ owned or upon refinancing of the subject p roperty. LIABILITIES Monthly Payment & Unpaid Balance Months Left to Pay Name and address of Company $ Payment /Months $ LisllkIng and savings accounts below Name an I address of Bank, S &L, or Credit Union Acct. no. Name and address of Company $ Payment /Months $ Acct. no. $ Name an address of Bank, S &L, or Credit Union Acct. no. Name and address of Company $ Payment/Months $ 1110 Acct. no. Name an address of Bank, S &L, or Credit Union Acct. no Name and address of Company $ Payment /Months $ Acct. no. $ Name anc address of Bank, S &L, or Credit Union Acct. no. Name and address of Company $ Payment /Months $ Acct. nu. Stocks & 3onds (Company name /number $ & descrip ion) Acct. no. Name and address of Company $ Payment /Months $ Life insur /nce net cash value $ Face amo.Int: $ Subtotal Liquid Assets $ Real estat owned (enter market value $ from sch ule of real estate owned) Acct. no. Vested in rest in retirement fund $ Name and address of Company $ Payment /Months $ Net wort of business(es) owned $ (attach fi ncial statement) Automobiles owned (make and year) $ Acct. no. Alimony /Child Su port /Separate Maintenance $ j Payments Owed �o: Other Assts (itemize) $ Job - Related Expense (child care, union dues, $ etc.) • Total Monthly Payments $ / so Total Assets a. NNt Worth ► Total Liabilities b. $ (a e minus b)] $ $ Uniform Res denial Loan Application Fannie Mae Form 1003 7/05 `Rev. 6/09 Fannie Mae/ ireddie Mac Freddie Mac Form 65 7/05 (Rev. 6/09) VMP ® VMP21N (0907).01 Wolters Kluv er Financial Services Page 2 of 0 • • VI. ASSETS AND LIABILITIES (conl'd) Schedule of Real Estate Owned (If additional properties are owned, use continuation sheet.) Property Address (enter S if sold, PS if pending sale Type of Present Amount of Mortgages Gross Mortgage Insurance, Net or Rif rental being held for income) Property Market Value 8 Liens Rental Income Payments Maintenance. Rental Income 0 . TaxesB Misc. $ _ $ $ $ $ Totals $ $ $ $ $ $ List any additional names under which credit has previously been received and indicate appropriate creditor name(s) and account number(s): Alternate Name Creditor Name Account Number ___ DETAILS OF TRANSACTION VIII. DECLARATIONS a. Purchase price If you answer "Yes" to any questions a through i, please Borrower Co Borrower - - -_ -- - — use continuation sheet for explanation. b. Alterations, improvements, repairs Yes No Yea No c. Land (if acquired separately) a. Are there any outstanding judgments against you? r 1 I 1 I d. Refinance (incl. debts to be paid off) b. Have you been declared bankrupt within the past 7 years? El 1 I I I 1 1 c. Have you had property foreclosed upon or given title or deed in r-�I I I I H. I e. Estimated prepaid items -_. lieu thereof in the last 7 years? f. Estimated closing costs _ _ _ d. Are you a party to a lawsuit? 1 1 Li I 1 1 I g. PMI, MIP, Funding Fee e. Have you directly or indirectly been obligated on any loan which resulted in foreclosure, -_ - transfer of title in lieu of foreclosure, or judgment? (This would include such loans as home h. Discount (if Borrower will pay) mortgage loans, SBA loans, home improvement loans, educational loans, manufactured I Total costs (add Items a through (mobile) home loans, any mortgage, financial obligation, bond, or loan guarantee. If "Yes," 9 ti) provide details, including date, name, and address of Lender, : I I C J L J C L Subordinate financing FHA or VA case number, if any, and reasons for the action.) k. Borrower's closing costs paid by Seller f. Are you presently delinquent or in default on any Federal debt or I. Other Credits (explain) any other loan, mortgage, financial obligation, bond, or loan guarantee? If "Yes," give details as described in the preceding question. I I F F1 g. Are you obligated to pay alimony, child support, or separate I 1.-1 maintenance? I _ h. Is any part of the down payment borrowed? L_ J 1-1 I-1 I. Are you a co -maker or endorser on a note? I I. 1 n 1 L j . Are you a U.S. citizen? _J I I I k. Are you a permanent resident alien? I I I I I — — I. Do you intend to occupy the property as your primary 1 I I I 1 III/ m. Loan amount (exclude PMI, MIP, Funding Fee financed) n. PMI, MIP, Funding Fee financed residence? If "Yes," complete question m below. - m. Have you had an ownership interest in a property in the last I 1 L r � r three years? - (1) What type of property did you own principal residence o. Loan amount (add m & n) _ -, _ (PR), second home (SH), or investment property (IP)? p. Cash from /to Borrower (2) How did you hold title to the home - - solely by yourself (S), jointly with your spouse (SP), or jointly with another person (subtract j, k, 18 o from i) .10.)? -- - IX. ACKNOWLEDGEMENT AND AGREEMENT Each of the undersigned specifically represents to Lender and to Lender's actual or potential agents. brokers. processors. attorneys insurers. servicers, successors and assigns and agrees and acknow ledges that (1) the information provided M this application true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person w ho may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and /or in criminal penalties including, but not limited to. fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.. (2) the loan requested pursuant to this application (the • Loan') w ill be secured by a mortgage or deed of trust on the property described in this application; (3) the property w ill not be used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan: (5) the properly will be occupied as indicated in this application; (6) the Lender, its servicers, successors or assigns may retain the original and /or an electronic record of this application, w hether or not the Loan is approved: (7) the Lender and its agents, brokers, insurers, servicers, successors. and assigns may continuously rely on the information contained in the application, and I am obligated to amend and /or supplement the information provided in this application if any 01 the material facts that I have represented herein should change prior to closing of the Loan; (8) in the event that my payments on the Loan become delinquent. the Lender, its servicers, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one or more consumer reporting agencies: (9) ownership of the Loan and /or administration of the Loan account may be transferred with such notice. as may be required by law; (10) neither Lender nor its agents, brokers. insurers, se successors or assigns has made any representation or warranty. express or implied. to me regarding the property or the condition or value of the property; and (11) my transmission of this application as an 'electronic record" containing my 'electronic signature,' as those terms are defined in applicable federal and /or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as 0 a paper version of this application w ere delivered containing my original written signature. Acknowledgement. Each of the undersigned hereby acknowledges that any owner of the Loan, its servicers. successors and assigns. may verify or reverify any information contained in this application or obtain any information or data relating to the Loan, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting agency. Borrower's Signature Date Co- Borrower's Signature I Date X. INFORMATION FOR GOVERNMENT MONITORING PURPOSES The following information is requested by the Federal Government for certain types of loans related to a dwelling in order to monitor the lender's compliance with equal credit opportunity. fair housing and home mortgage disclosure laws. You are not required to furnish this information, but are encouraged to do so. The law provides that a lender may not discriminate either on the basis of this information, or on whether you choose to furnish it. If you furnish the information, please provide both ethnicity and race. For race. you may check more than one designation. II you do not furnish ethnicity, race, or sex, under Federal regulations, this lender is required to note the information on the basis of visual observation and surname it you have made this application in person. If you do not wish to furnish the information. please check the box below. (Lender must review the above material to assure that the disclosures satisfy all requirements to which the lender is subject under applicable state law for the particular type of loan applied for.) BORROWER I I do not wish to furnish this information. CO•BORROW ER I 1 1 4 0 not wish to furnish this information. Ethnicity: I I Hispanic or Latino I 1 Not Hispanic or Latino Ethnicity: 1 1 Hispanic or Latino I I Not Hispanic or Latino Race: American Indian or I I Asian Blac o r American Indian or — Alaska Native I 1 African American Race I J Alaska Native 1 1 Asian I I African or Native Hawaiian or 1 I N Hawaiian or Other Pacific Islander I I White Other Pacific Islander n While Sex: I Female 1 1 M ale Sex: L 1 Fem ale 1 1 Male To be Completed by Loan Originator: This information was provided: 1 1 In a face -to -face interview = By the applicant and submitted by fax or mail I 1 In a telephone interview 1 I By the applicant and submitted via e-mail or the Internet Loan Originator's Signature Date X Loan Originator's Name (print or type) Loan Originator Identifier Loan Originator's Phone Number (including area code) • Loan Origination Company's Name Loan Origination Company Identifier Loan Origination Company's Address Uniform Residential Loan Application Fannie Mae form 1003 7/05 Rev. 6/09 Fannie Mae /Freddie Mac Freddie Mac Form 65 7/05 (Re 6/09) W oller Kluwer Financial Services VMP21N (0907).01 Page 3 of 4 i CONTINUATION SHEET /RESIDENTIAL LOAN APPLICATION Use this ontinuation sheet if Borrower: Agency Case Number. you need more space to complete the Residential Loan Bpp in. B for Co- Borrower. - Lender Case Number: • Borrower ower for or C for Co- Borrower. • • I /We fully mderstand that it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make any false statements concerning any of the above facts as applica le under the provisions of Title 18, United States Code, Section 1001, et seq. Borrower's Signature: Date Co- Borrower's Signature: Date • X X • Uniform Res,iential Loan Application Fannie Mae Form 1003 7/05 (Rev. 6/09 Fannie Mae //reddie Mac Freddie Mac Form 65 7/05 (Rev. 6/09) VMP r VMP21 N (0907).01 Wolters Kluv er Financial Services Page 4 of 4 • • PROMISSORY NOTE EnergySmart Partners LLC E nergy Smart Residential Energy Efficiency Revolving Loan Fund Program • «bor_first_name» «borrower_ initial» « bor_last_name» Date: «est_closing_date» «cobor_first_name» «coborrower_initial» «cobor_last_nan (Referred to below as 'I" . 'me", or "my ") Loan Number: «filename» Property address: «subject_address» «subject_city», «subject_state» «subject_zip» 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received (the "Loan "), I promise to pay U.S $ «loan_amount».00 (this amount is referred to as "Principal "),, plus interest, to the order of the Lender. The Lender is EnergySmart Partners LLC., a limited liability company, organized and existing under the laws of the State of Colorado. The Lender, its' designee, or any party that accepts this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder" Use of Funds The Loan is being made in order to assist Borrower(s) in capital improvement projects to enhance the energy efficiency of owner occupied housing. 2. INTEREST Interest will be charged on unpaid principal until the full amount of principal has been paid. I will pay interest at the rate of <mote_rate» % per annum. The interest rate shown above is the rate I will pay both before and after any default hereunder. 3. PAYMENTS I will pay principal and interest (as provided in Sectt(n 2 above) l>y' making payments evciy month. I will make payments on the S day of each monk beginning on «first paynienb>. I will make these payments every month until I have paid all of the principal and interest, if any, and any other chages described behno that 1 may owe wider this NOW. If interest is charged on the Loan, my monthly payments will be applied first to accrued interest, then principal. Additional payment amounts received shall be applied toward late charges or other fees due, with any remaining payment amounts applied to the principal loan balance as pre - payment. If, on a inal_paymento, I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "Maturity Date' If I fail to make payment for any amount less than full amount shown below by the 20 day of each month while principal due under this Note is outstanding, Lender may elect to assess a late charge equal to 5.0% of my regular payment amount. Election to waive or impose such late charge on one occasion shall not constitute waiver or imposition on another occasion. 1 will make payments at the office of EnergySmart Partners LLC ( "Note Holder" as described in Section I above), whose office is located at 214 S. College Avenue, 2 Floor, Fort Collins, CO 80524, or at a different place if required by the Note Holder. My monthly payments will be in the amount of U.S. $ «Monthly_Payment_initial». My monthly payment will be automatically withdrawn from the bank account of my choosing. 1 am required to maintain a bank account for the automatic payments as long as my loan is outstanding. 4. BORROWER'S RIGHT TO PREPAY I have the right to make payment of all principal, accrued interest and other applicable fees or charges at any time before they are due without • 5. paying any prepayment charge. LOAN CHARLES If any law, which applies to this loan and which sets maximum loan charges, provides that the interest or other charges collected or to be collected in connection with this loan exceed the permitted limits, then: (i) any such interest or loan charge shall be reduced by the amount necessary to reduce the interest or rate charge to the permitted limit; and (6) any sums already collected from me which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the principal I owe under this Note or by making a direct payment to me. Ha refund reduces principal, the reduction will be treated as a reduction of the original principal due under this Note. 6. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if 1 give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3 above or at a different address if I am given a notice of that different address. 7. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 8. WAIVERS I and any other person who have obligations under this Note waive the rights of presentment and notice of dishonor. "Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of dishonor" means the right to require the Note Holder to give notice to other persons that amounts due have not been paid. The modification or waiver of any of my obligations or Lender's rights under this Note must be contained in a writing signed by Lender. Lender may perform any of my obligations or delay or fail to exercise any of its rights without causing a waiver of those obligations or rights. A waiver on one occasion will not constitute a waiver on any other occasion. My obligations under this Note shall not be affected if Lender amends, compromises, exchanges, fails to exercise, impairs or releases any of the obligations belonging to any co- borrower or guarantor or any of its rights against any co- borrower or guarantor to this Note. 9. APPLICABLE LAW This Promissory Note shall be governed by applicable Federal law and Colorado law. 10. COLLECTION COSTS To the extent permitted by law, I agree to pay Lender's reasonable fees and costs, including, but not limited to, fees and costs of attorneys and other agents which are incurred by Lender in collecting any amount due or enforcing any right or remedy under this Note, whether or not suit is brought, including, but not limited to, all fees and costs incurred on appeal, in bankruptcy, and for post - judgment collection actions. 11. FTC Notice • Any holder of this consumer credit contract is subject to all claims and defenses which the debtor could assert against the seller of • goods or services obtained pursuant hereto or with the proceeds hereof. Recovery hereunder by the debtor shall not exceed amounts paid by the debtor hereunder. NOTICE TO BORROWER Read this promissory note before you sign. Do not sign t his «bor_first_name» «borrower_initial» «bor_last_name» promissory note if it contains blank spaces. «cobor_first_ name» «coborrower_initialo «cobor_last_name» • • FEDERAL TRUTH -IN- LENDING DISCLOSURE STATEMENT (THIS IS NEITHER A CONTRACT NOR A COMMITMENT TO LEND) EnergySmart Partners LLC Energy Smart Residential Energy Efficiency Revolving Loan Fund Program Borrower(s): «bor_first_name» «borrower initial» «bor_last_name» Lender: EnergySmart Partners LLC • «cobor_first_name» «coborrower_initial» «cobor_last_name» 214 S. College Ave., 2 Floor Property Address: «subject_address», Fort Collins, CO 80524 «subject_city», «subject_state» «subject_zip» Loan Number: «filename» Date: «est_closing_date» ❑ Initial Disclosure El Final Disclosure Anne al Percentage Finance Charge Amount Financed Total of Payments Rate The maximum dollar The amount of credit The amount you will have paid after • The rost of your credit amount the credit will cost provided to you or on your making all your payments as scheduled. as a! early rate you. behalf. «apr»% $«Finance Charge» $«Amount_Financed» $ «Total_of Payments» INTEREST RATE AND PAYMENT SUMMARY Rate & Payment Interest Rate «note rate»% Principal + Interest Payment S< Monthly_Paymenb> Estim tied Taxes + Insurance (Escrow) $0.00 ❑ In.ludes Private Mortgage Insurance ❑ Ini ludes Mortgage Insurance Total Estimated Monthly Payment $«Monthly_Paymenb> ❑ F NAL BALLOON PAYMENT DUE: ❑ DEMAND FEATURE: This loan transaction has a demand feature. ❑ REQUIRED DEPOSIT: The annual percentage rate does not take into account your required deposit. ❑ VARIABLE RATE FEATURE: Your loan contains a Variable Rate feature. Disclosures about the Variable Rate feature have been provided to you separately. • SECURITY: You are giving a security interest in: ❑ TI-e goods or property being purchased ❑ Real property you already own. THELE IS NO GUARANTEE THAT YOU WILL BE ABLE TO REFINANCE TO LOWER YOUR RATE AND PAYMENTS FILING FEES: $0.00 LATE CHARGE: If a payment is more than 15 days late, you will be charged 5 %. PREPAYMENT: If you pay off early, you ❑ may El will not have to pay a penalty. ❑ may El will not be entitled to a refund of part of the finance charge. INSURANCE: The following insurance is required to obtain credit: ❑ Crsdit life insurance ❑ Credit disability ❑ Property insurance ❑ Flood insurance You may obtain the insurance from anyone you want that is acceptable to the creditor. ❑ If y purchase ❑ property ❑ flood insurance you will pay $ for a one year term. ASSU OPTION: Someone buying your property ❑ ma! ❑ may, subject to conditions El may not assume the remainder of your loan on the original tenns. See your loan documents for any additional information about nonpayment, default, any required repayment in full before the scheduled date and prepayment refunds and penalties. 17 * means an estimate 1E1 all date and numerical disclosures except the late payment disclosures are estimates. You a not required to complete this agreement merely because you have received these disclosures or signed a loan application. The undersigned hereby acknowledge(s) reading and understanding all of the information disclosed above, and receiving a completed copy of this disclosure on the date Indic ted below. Read, acki owledged and accepted this day of Prepared By EnergySmart Partners LLC «bor_first_name» «borrower_ initial» «bor_last_name» Date • «1 obor first name» «coborrower_initial» «cobor last name» Date • • BORROWER CERTIFICATION • EnergySmart Partners LLC believes the success of this program is wholly dependent upon the process of providing you detailed and accurate information regarding all aspects of this transaction and financing mechanisms used to achieve your goal. We invite you to contact us directly if you feel any aspect of this agreement has not been explained to your satisfaction. Please contact: EnergySmart Partners LLC 214 S. College Avenue, 2 Floor Fort Collins, CO 80524 (970) 494 -2021 Phone (970) 494 -2022 Fax infoAfundingpartners.org We have requested that your contractor, «lender_name», help facilitate our loan process to enhance convenience for all parties. You are advised that your contractor is not affiliated with EnergySmart Partners LLC or its parent organization, Funding Partners for Housing Solutions, Inc. Your contractor does not receive compensation from EnergySmart Partners LLC for referring applicants to EnergySmart Partners LLC or in facilitating our loan application process. Your contractor does not function as a representative of EnergySmart Partners LLC and is not authorized to negotiate your loan terms or credit qualifications and is not provided access to information contained within your loan application or customer file. By signing below, you are acknowledging that the Promissory Note, Federal Truth -in- Lending Disclosure and other documents have been fully explained to you and that you understand the amount you owe, under what circumstances your loan must be paid in full and how you can contact us for further information. 4111 Dated: «bor_first_name» «borrower_ initial» «bor_last_name» «cobor first name» «coborrower initial» «cobor last name» Contractor Representative Name Signature «lender_name» • • EnergySmart Partners LLC iffi 214 S. College Avenue, 2 Floor Fort Collins, CO 80524 (970) 494-2021 (970) 494-2022 Fax WAIVER OF LIEN AND COMPLETION OF WORK AFFIDAVIT Dn [date], [name of claimant] ( "Contractor "), of [address], City of [city], County of [county], State of Colorado, ,ntered into a Construction Contract with [name of owner] ( "Borrower "), to furnish [description of labor and materials] for the work performed on property owned by [name of owner], of [property address where work was performed], the description of which is as follows: In consideration of [amount] Dollars, ($ ), receipt of which is hereby acknowledged, [claimant] hereby waives any right to claim a mechanic's lien against the above described property, or any improvements thereon, in order to ecure payment for the services he has furnished under the herein mentioned contract. is waiver has been executed by [claimant] voluntarily and with full knowledge of the rights afforded under the laws of e State of Colorado. . ignature Title • laimant] BORROWER RELEASE ou are hereby requested and authorized to pay the sum of $ to as a disbursement of loan proceeds under our promissory note with ou dated . Such funds are to be applied toi pay for labor and materials furnished under a Construction ontract with ( "Contractor ") dated Borrower ereby CERTIFYS that: (i) work is progressing on schedule and in accordance with the Construction Contract and the . ' lans and Specifications referred to therein; (ii) there is no default under the promissory note or the Construction Contract; .1 d, (iii) there are sufficient undisbursed loan proceeds to complete construction in accordance with the Construction ontract and such Plan and Specifications. ORROWER: BORROWER: • • • • FACTS What Does EnergySmart Partners LLC Do With Your Personal Information? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or services you have with us. This information can include: • Social Security number and mortgage rates and payment • Payment history and transaction history • Credit history and credit scores When you are no longer our customer, we continue to share information as described in this notice. How? All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons EnergySmart Partners LLC chooses to share; and whether you can limit this sharing. Reasons we can share your Does EnergySmart Partners Can you limit this personal information LLC share? sharing? For our everyday business purposes - Such as to process your transactions, Yes No maintain your accounts, responds to court orders and legal investigations, or report to • credit bureaus. • For our marketing purposes - To offer our products and services to you N We Don't Share For joint marketing with other financial companies N We Don't Share For our affiliates' everyday business purposes — Yes No Information about your transactions and experiences For our affiliates' everyday business purposes — Yes No Information about your credit worthiness For our affiliates' to market to you No We Don't Share For our non - affiliates' to market to you No We Don't Share Questions? Call 970-494-2021 or go to www.fundingpartners.org Who we are Who is providing this notice? EnergySmart Partners LLC 214 S. College Ave. 2 " Flr. Fort Collins, CO 80524 What we do How does EnergySmart Partners LLC To protect your personal information from unauthorized access and use, protect-my personal information? we use security measures that comply with federal law. These measures • How does EnergySmart Partners LLC include computer safeguards and secured files and buildings. We collect your personal information, for example, when you collect my personal information? • Apply for a loan or • Apply for financing • Pay us by check • What d'e do >__ • Why can't 1 limit all sharing? Federal law gives you the right to limit only • Sharing for affiliates' everyday business purposes — information about your creditworthiness • Affiliates from using your information to market to you • Sharing for non - affiliates to market to you State Laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law. Definitions Affiliates Companies related by common ownership or control. They can be financial and non - financial companies. EnergySmart Partners LLC shares your information for our everyday business ourooses with our affiliates. Non - Affiliates Companies not related by common ownership or control. They can be financial and non - financial companies. EnergySmart Partners LLC does not share with non - affiliates so they can market to you. Joint Marketing A formal agreement between non - affiliated financial companies that together market financial products are services to you. EnergySmart Partners LLC doesn't jointly market. • • �► • • iffi EnergySmart Partners LLC 214 S. College Avenue, 2 Floor Fort Collins, CO 80524 (970) 494-2021 (970) 494-2022 Fax EnergySmart Partners Energy Smart Residential Energy Efficiency Revolving Loan Fund Program E STATEMENT ENROLLMENT FORM • New to E- Statements ❑ Change ❑ Cancel Borrower Information: «bor_first_name» «borrower_initial» «bor_last_name» «cobor first name» «coborrower initial» «cobor last name» Property address: «subject_address» «subject_city», «subject_state» «subject_zip» Loan Number: «filename» Email Address: • (please print clearly) Alternate Email Address: (please print clearly) By signing below, I represent I agree to opt in for E- Statements from EnergySmart Partners LLC and understand my loan statements will to be emailed to me and that I have caused this Enrollment Form to be executed. AGREED TO AND ACCEPTED: Date: «bor first name» «borrower initial» «bor last name» Date: «cobor first name» «coborrower initial» «cobor last name» • • f fi • FIRST PAYMENT LETTER EnergySmart Partners LLC Energy Smart Residential Energy Efficiency Revolving Loan Fund Program nergySmart Partners is pleased to provide the Energy Smart Residential Energy Efficiency Revolving oan Fund Program, which allows qualified households the opportunity to make capital improvement .rojects to enhance the health, safety, and energy efficiency of their home! Under the terms of this oan, you are required to make regular monthly payments of principal and interest in the amount of «Monthly_Payment_initial» which are due no later than the 5 day of every month. The Loan .ervicer, Funding Partners will w ithdraw your payment via ACI' withdrawal from the account you .pecify on the ACH Authorization Form on the 5` day of every month beginning «first_payment»: .hould there be any delay setting up your ,account prior to the first payment date, you can use this first .ayment letter as a temporary payment coupon. t your request, you may be provided an amortization schedule of payments to reflect the application f principal and interest for each payment required to satisfy your loan obligation by the maturity date f your Note. 'ayments will be made to: EnergySmart Partners LLC C/O Funding Partners 214 S. College Avenue, 2 Floor Fort Collins, CO 80524 Ref: Loan Number «filename» DO NOT MAIL CASH • hank you for your cooperation! incerely, onnie Ealey oan Programs Manager 970.494.2021 connieWundingpartners. org 1111 • • EnergySmart Partners LLC 214 S. College Avenue, 2 Floor Fort Collins, CO 80524 • 970.494.2021 970.494.2022 Fax www.fundingpartners.org AUTHORIZATION AGREEMENT FOR DIRECT PAYMENTS (ACH DEBIT) Company Name: EnergySmart Partners LLC I (we) hereby authorize EnergySmart Partners LLC, hereinafter called COMPANY, to initiate debit entries to my (our) [ ] Checking [ ] Savings account (select one) indicated below at the depository institution named below, hereinafter called DEPOSITORY, and to debit the same to such account in the amount of $ «Monthly_Payment_initial» Depository Name: Branch: City: State: Zip: Routing Number: Account Number: This authorization is to remain in full force and effect until COMPANY has received written notification from me (or either of us) of its termination in such time and manner as to afford COMPANY and DEPOSITORY a reasonable opportunity to act on it. Please include all names as they appear on the account to be drafted. • Name: Name: PLEASE PRINT PLEASE PRINT Signature: Signature: FP Loan Number: «filename» Date: PLEASE NOTE: YOU MUST ATTACH A CANCELLED CHECK (UNSIGNED) FROM THE ACCOUNT YOU WISH TO HAVE DRAFTED IN ORDER TO PROCESS THIS REQUEST. • . • fob PROMISSORY NOTE EnergySmart Partners LLC Energy Smart Residential Energy Efficiency Revolving Loan Fund Program • «bor_first_name» «bonower_initial» «bor_last_name» Date: «est_closing_date» • «cobor_first_name» «coborrower_initial» «cobor_last_nan (Referred to below as "I' . "me ". or "my ") Loan Number «filename» Property address: «subject_address» «subject_city», «subject_state» «subject_zip» 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received (the "Loan "), I promise to pay U.S $<doan amount».00 (this amount is referred to as "Principal "), plus interest, to the order of the Lender. The Lender is EnergySmart Partners LLC.. a limited liability company, organized and existing under the laws of the State of Colorado. The Lender, its' designee, or any party that accepts this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder" (A) Use of Funds The Loan is being made in order to assist Borrower(s) in capital improvement projects to enhance the energy efficiency of owner occupied housing. 2. INTEREST Interest will be charged on unpaid principal until the full amount of principal has been paid. I will pay interest at the rate of «note_rate» % per annum. The interest rate shown above is the rate I will pay both before and after any default hereunder. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest (as provided in Section 2 _ above) by ntaking payments every month. I will make payments on the 5" day of each month beginning on «lirst_paymeut». I will make these payments every month until 1 have paid all of the principal and interest, if any, and any other charges described below that I may owe under this Note. If interest is charged on the Loan, my monthly payments will be applied first to accrued interest, then principal. Additional payment amounts received shall be applied toward late charges or other fees due, with any remaining payment amounts applied to the principal loan balance as pre - payment. If, on <dinal payment», 1 still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "Maturity Date" If I fail to make payment for any amount less than full amount shown below by the 20 day of each month while principal due • under this Note is outstanding, Lender may elect to assess a late charge equal to 5.0% of my regular payment amount. Election to waive or impose such late charge on one occasion shall not constitute waiver or imposition on another occasion. 1 will make payments at the office of EnergySmart Partners LLC ( "Note Holder" as described in Section 1 above), whose office is located at 214 S. College Avenue, 2° Floor, Fort Collins, CO 80524, or at a different place if required by the Note Holder. My monthly payments will be in the amount of U.S. $«Monthly_Payment_initial». My monthly payment will be automatically withdrawn from the bank account of my choosing. I am required to maintain a bank account for the automatic payments as long as my loan is outstanding. • • (B) Acceleration of This Note Lender may accelerate and declare all Note principal and accrued interest to be immediately due and payable in full upon notification of any of the following events: (a) 1 no longer occupy the Property as my primary residence or do not occupy the Property as my primary residence within sixty days of the execution of this Note; (b) I use the Property as collateral for any loan or indebtedness other than those Senior Lien Instruments in place at the time of this Note (defined in Section 8 below); (c) I transfer or sell any part of my interest in the Property; (d) I refinance any indebtedness due under and secured by a Senior Lien Instrument, or any portion of sums due under this Note; (e) I allow the property to be used in any manner that violates any laws, regulations or ordinances relating to zoning, building or health, or I allow the Property to be used for any purpose that may be determined to be illegal under any applicable law, regulation or ordinance; (f) If 1 die, my estate must settle this claim; or (g) I fail to make any payment when due under this Note or otherwise fail to comply with terms of this Note. (C) Partial Release for Catastrophic Events In the event of a Catastrophic Event resulting in a bona fide sale of the Property to a party not related to or affiliated with me, the Lender agrees to release and cancel the Subordinate Security Instrument (defined Section 10 below) upon payment to the Lender of • the lesser of (i) all amounts owed to the Lender pursuant to the terms of the Note and the Subordinate Security Instrument, or (ii) all sale proceeds in excess of the amount owed to the Senior Lien Holder(s) (defined in Section 8 below) in accordance with the Senior Len Security Instrument(s) (defined in Section 8 below) on the Property. The Lender shall have the right to require such verification and substantiation as the Lender shall deem necessary prior to any release of the Subordinate Security Instrument. Provided, however, the Lender's obligation to release and cancel the Subordinate Security Instrument for a Catastrophic Event shall only remain effective during such time as the Combined Loan-to -Value Ratio exceeds 100%. For the purposes of this paragraph (C): (i) The term "Catastrophic Event" shall mean my death or divorce, or an Extended Illness, occurring during the term of the Note, which event directly results in a verifiable financial hardship requiring me to sell the Property; The term "Extended Illness" shall mean a serious accident or injury rendering me or my spouse, or an adult • family member who is primarily dependent upon me for his or her support, unable to engage in meaningful employment for a period in excess of ninety (90) days; and (iii) The term "Combined Loan-to -Value Ratio" shall mean the sum of amounts owed to Senior Lien Holder(s) in accordance with the Senior Lien Security Instrument(s) on the Property combined with the amount owed pursuant to the Note and the Subordinate Security Instrument and total amounts owed under all subsequent Subordinate Security Instruments, if applicable, at the time of this transaction. Such sum shall then be divided by the fair market value of the Property, as determined by a recent Residential Valuation Report completed by a duly licensed Colorado appraiser, to achieve a final Combined Loan-to -Value Ratio. Lender shall reserve the right to dispute the valuation determination contained within any such Report and may elect, at it's sole discretion and expense, to provide an alternative Residential Valuation Report from an accredited source in determining final disposition of this Subordinate Security Instrument. 4. BORROWER'S RIGHT TO PREPAY I have the right to make payment of all principal, accrued interest and other applicable fees or charges at any time before they are due without paying any prepayment charge. 5. LOAN CHARGES • If any law, which applies to this loan and which sets maximum loan charges, provides that the interest or other charges collected or to be collected in connection with this loan exceed the permitted limits, then: (i) any such interest or loan charge shall be reduced by the amount necessary to reduce the interest or rate charge to the permitted limit; and (ii) any sums already collected from me which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the principal I owe under this Note or by making a direct payment to me. If a refund reduces principal, the reduction will be treated as a reduction of the original principal due under this Note. Page 1 of 2 • 4 6. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different • address Any notice that must be given to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that different address. 7. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. • 3. SUBORDINATION 1 acknowledge that the indebtedness evidenced by this Note, and any other financial obligation which may hereafter be imposed on me by the Lender, is subordinate to the indebtedness evidenced by a note payable to a senior lender, which note is secured by a first mortgage of deed of trust on the Property (the "First Lien Security Instmment "). The holder of such First Lien Security Instrument shall be'hereafter referred to as the Senior Lien Holder. Subsequent obligations that I enter into, hick requite a lien position that is senior to the deed of trust securing this Note, shall be at the sole discretion of the Note Holder. WAIVERS I and any other person who have obligations under this Nate waive the rights of pteacntment and notice of dishonor..‘Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of dishonor" means the right to require the Note Holder to give notice to other persons that amounts due have not been paid. The modification or waiver of any of my obligations or Lender's rights under this Note must be contained in a writing signed by Lender. Lender may perform any of my obligations or delay or fail to exercise any of its rights without causing a waiver of those obligations or rights. A waiver on one occasion will not constitute a waiver on any other occasion. My obligations under this Note shall not be affected if Lender amends, compromises, exchanges, fails to exercise, impairs or releases any of the obligations belonging to any co-borrower or guarantor or any of its rights against any co- borrower, guarantor, the collateral or any other property securing this Note. 0. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Lender under this • Note, I am granting the Lender a security interest in the Property under a Deed of Trust (the "Subordinate Security Instrument "), dated the same date as this Note, to protect the Lender from possible losses which might result if I do not keep the promises which I make in this Note. The Subordinate Security Instrument is and shall be subject and subordinate in all respects to the liens, terms, covenants and conditions of the First Lien Security Instrument. The Subordinate Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follows: (A) Transfer of the Property or a Beneficial Interest in Borrower Except for a conveyance to the Senior Lien Holder or Trustee under the First Lien Security Instrument, if all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Note Holder's prior written consent (including a transfer of all or any part of the Property to any person who does not use the Property as a primary residence); or F • (B) Failure to Occupy Property Except where prior written consent of the Note Holder has been provided, I fail to occupy the property as my primary residence while any portion of the principal and interest is due under this Note; or • (C) Default or Non - Performance • If I fail to comply with all terms of this Note and the Subordinate Security Instrument or cause non - compliance with terms and conditions defined within Senior Security Instrument(s) including, but not limited to, initiation of foreclosure proceedings by any lienholder, notice of voluntary or involuntary bankruptcy, insolvency or receivership, assignment of my assets to creditors, or upon my death. (D) Default Rate: If there is an Event of Default under this Note, the Lender may, in its discretion, increase the interest rate on this Note to Twelve percent (12 %) or the maximum interest rate Lender is permitted to charge by law, whichever is less. 1 . APPLICABLE LAW • This Note and the Subordinate Security Instrument shall be governed by applicable Federal law and Colorado law. 1 I COLLECTION COSTS To the extent permitted by law, I agree to pay Lender's reasonable fees and costs, including, but not limited to, fees and costs of attomeys and other agents which are incurred by Lender in collecting any amount due or enforcing any right or remedy under this Note, whether or not suit is brought, including, but not limited to, all fees and costs incurred on appeal, in bankruptcy, and for post judgment collection actions. 1.. FTC Notice Any holder of this consumer credit contract is subject to all claims and defenses which the debtor could assert against the seller of goods or services obtained pursuant hereto or with the proceeds hereof. Recovery hereunder by the debtor shall not exceed amounts paid by the debtor hereunder. NJTICE TO BORROWER R tad this promissory note before you sign. Do not sign this obor_first_name» «borrower_initial» «bor_last_name» • pi omissory note if it contains blank spaces. This promissory note is secured by a subordinate lien on your real property. ocobor first name» «coborrower initial» «cobor last name» • Page 2 of 2 • • After Recordation, Please Return to: EnergySmart Partners LLC 214 S. College Avenue, 2 Floor S Fort Collins, CO 80524 DEED OF TRUST (Subordinate Lien) Borrower (Grantor): Lender (Beneficiary): • EnergySmart Partners LLC., a Colorado limited liability company «bor_first_name» «borrower_ initial» «bor_Iast_name» «cobor_first_ name» «coborrower_initial» «cobor_last_name» 214 S. College Avenue, 2 " Floor • Fort Collins, CO 80524 «subject address» «subject_city», «subject_state» «subject_zip» Initial Interest Rate: «note_rate»% Monthly Payment: U.S. SoMonthly_Payment_initial» Principal Amount of Promissory Note Date of Promissory Note Maturity Date Loan Number $ «loan_amount».00 «est_closing_date» «final_paymeut» «fdename» THIS DEED OF TRUST ( "Security Instrument ") is made on «est_closing_date», among the grantor, ( "Borrower "), the Public Trustee of «subject county» County ( "Trustee "), and the beneficiary, EnergySmart Partners LLC, a limited liability company, organized and existing under the laws of the State of Colorado ( "Lender "). Lender reserves the right to assign or designate a third party as "Note Holder" to whom all rights and responsibilities of Lender are hereby extended. Borrower owes Lender the principal sum of 00 /100 Dollars (U.S. S «loan_amouob>.00). This debt is evidenced by Borrower's Note dated the same date as this Security Instrument ( "Note "). The Note provides for payment of the principal amount of the Note, together with interest (as provided in the Note) in monthly installments due on the 5` of each month beginning ofirst _payment». The Note provides that the full debt, if not paid earlier, shall be due and payable on ofmaljraymenb>, the "Maturity Date" of the Note. In addition to the Loan, Borrower has an existing deed of trust loan (the "First Deed of Trust Loan ") from «lender_name» (the "senior Deed Holder "), which loan is secured by a first deed of trust lien on the Property (the "First Deed of Trust "). The documents evidencing or securing the First Deed of Trust Loan are collectively referred to here'm as the First Deed of Trust Loan Documents, This Security Instrument secures to Lender. (a) the repayment of the debt evidenced by the Note with interest as provided in the Note, and all renewals, extensions and modifications of the Note, (b) the payment of all suers, with interest as provided in the Note, advanced under paragraph 7 to protect the security of this Security Instrument; aril (c) the performance of Borrower's covenants and agreement» under this Security Instrument and Note. For this purpose, Borrower irrevocably grants ancLoonveys trr-Trustee, in trust, with power af sale, ' subject -to the rights ..of the Senior Lien Holder under the First Deed of Trust, the property located in «subject county» County, Colorado, which has the address of «subject_address », «subject city», Colorado «subject_zip» ("Property Address ") and is further described as «attachment» 1111 County of <csubject_county», State of Colorado. TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property" BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and, except for the First Deed of Trust and other encumbrances of record acceptable to the Senior Lien Holder, the Property is unencumbered. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to such encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any late charges due under the Note. 2. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraph 1 shall be applied: first, to any prepayment charges due under the Note; second, to interest due; third, to principal due; and last, to any late charges and other sums due under the Note. 3. Prior Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under the First Deed of Trust, including Borrower's covenants to make payments when due. Borrower shall pay all taxes, assessments, charges fines impositions attributable to the Property which may attain priority over this Security Instrument and leasehold payments or ground rents, if any. Borrower shall pay them on time directly to the person or entity owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Except for the lien of the First Deed of Trust, Borrower shall promptly discharge any other lien which shall have attained higher priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent enforcement of the lien; or (c) secures from the holder of the lien agreement satisfactory to Lender subordinating the lien to this Security Instrument. Except for the lien of the First Deed of Trust, if Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy such lien or take one of more of the actions set forth above within 10 days of giving the notice. 4. Subordination Lender and Borrower acknowledge and agree that this Security Instrument is subject and subordinate in all respects to the liens, terms and conditions of the First Deed of Trust and to all advances heretofore made or which may hereafter be made pursuant to the First Deed of Trust including all sums advanced for the purpose of (a) protecting or further securing the lien of the First Deed of Trust, curing defaults by Borrower under the First Deed of Trust or for any other purpose expressly permitted by the first Deed of Trust or (b) constructing, renovating, repairing, furnishing, fixturing or equipping the Property. The terms and provisions of the First Deed of Trust are paramount and controlling, and they supersede any other terms and provisions hereof in conflict therewith. • If the Senior Lien Holder acquires title to the Property pursuant to a deed in lieu of foreclosure, the lien of this Security Instrument shall automatically terminate upon the Senior Line Holder's acquisition of title, provided that CO Lender has been given written notice of a default under the First Deed of Trust and (ii) Lender shall not have cured the default under the First Deed of Trust, or diligently pursued curing the default as determined by the Senior Lien Holder, within the 60 -day period provided in such notice sent to Lender. Page 1 of 4 • • 1 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be • chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgagee clause. An requirements hereof pertaining to insurance shall be deemed satisfied if Borrower complies with the insurance requirements under the First Deed of Trust. All original policies of insurance required pursuant to the First Deed of Trust shall be held by Senior Lien Holder; provided, however, Lender may be named as a loss payee as its interest may appear and may be named as an additional insured. If Lender requires, Borrower shall promptly give to Lender copies of all paid receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier, the Senior Lien Holder and Lender. Lender may make proof of loss if not made promptly by the Senior Lien Holder or Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 -day period will begin when notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraph 1 or change the amount of thfpayments.. If under paragraph 21 the Ptdperty is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property pnor to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately pr to the acquisition. Notwithstanding the above, Lender's rights to collect and apply the insurance proceeds hereunder shall be subject and subordinate to the rights of the Senior Lien Holder to collect and apply such proceeds in accordance with the First Deed of Trust. I . Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such default and reinstate, as provided in paragraph 17, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material impairment of the line created by the Security Instrument or Lender's security • interest. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning (1) Borrower's occupancy of the Property as a principal residence and (ii) Borrower's income. If this Security Instrument is on a leasehold, Borrower shall comply with all provisions of the lease. If Borrower acquires fee title to the Property, the • leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. Borrower acknowledges that this Property may be subject to certain use and occupancy restrictions (which may be further evidenced by a separate agreement recorded in the land records where the Property is located), limiting the Property's use to certain covenants and restrictions regarding occupancy and future transfer of title from Borrower to subsequent title holders that are qualified according to pre - established income thresholds or other definitions that preserve the Property as "affordable" Unless Lender provides prior written consent, if at any time sums are due under this Security Instrument, Borrower fails to maintain the Property as his or her primary residence (or at least one of the individuals executing this Security Instrument, if more than one Borrower), entitle Lender to the remedies provided in Section 21 hereof 11 1 Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument (including sums secured by the First Deed of Trust), appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. Prior to taking any actions under this Section 7, however, Lender shall notify the Senior Lien Holder of such default in the manner provided in Section 21 of this Security Instrument, and shall provide the Senior Lien Holder with the opportunity to cure any such default under this Security Instrument. All amounts advanced by the Senior Lien Holder to cure a default hereunder shall be deemed advanced by the Senior Lien Holder and shall be secured by the First Deed of Trust. In addition, Lender agrees that it will not commence foreclosure proceedings or accept a deed in lieu of foreclosure, or exercise any other rights or remedies hereunder until it has given the Senior Lien Holder at least 60 days' prior written notice. Any action by Lender hereunder to foreclose or accept a deed in lieu of foreclosure shall be subject to the "due on sale' provisions of the First Deed of Trust. Lender and Borrower further agree that a default hereunder shall constitute a default under the First Deed of Trust. In the event of a default hereunder, the Senior Lien Holder shall have the right to exercise all rights and remedies under the First Deed of Trust. 8 Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9 Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to the terms of the First Deed of Trust. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly • payments referred to in paragraphs 1 and 2 or change the amount of such payments. Page 2 of 4 • 9. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrowers successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original S Borrower or Borrowers successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waver of or prclude the exercise of any right or remedy Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 16. Borrowers covenants and agreements shall be joint • and several. Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrowers consent; provided, however, that such modification or accommodation shall not be made without the prior written consent of the Senior Lien Holder. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from. Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice required to be given to the Senior Lien Holder shall be given to the Note Holder by first class mail to the following address: EnergySmart Partners LLC 214 S. College Avenue, 2 Floor Fort Collins, CO 80524 or such other address the Senior Lien Holder designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. • 14. Governing Law; Severability. This Security Instillment shall be governed by federal law and the law of the jurisdiction in which the Property is • • located. In the event that any provision or clause of this Security Instrument 04 the Note conflicts with applicable law, such conflict shall not affect • other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note ate declared to be severable 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 16. Transfer of the Property or a Beneficial Interest in Borrower. Except for a conveyance to the trustee under the First Deed of Trust, if all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent (including a transfer of all or any part of the Property to any person who, at initial occupancy of the Property does not use the Property as a primary residence) Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrower and the Senior Lien Holder prior written notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. • If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. Notwithstanding Lender's right to invoke any remedies hereunder, as provided in Section 7 above, Lender agrees that it will not commence foreclosure proceedings or accept a deed in lieu of foreclosure, or exercise any other rights or remedies hereunder until it has given the Senior Lien Holder at least 60 days' prior written notice. Borrower and Lender agree that whenever the Note or this Security Instrument gives Lender the right to approve or consent with respect to any matter affecting the Property (or the construction of any improvements thereon) or otherwise (Including the exercise of any "due on sale" clause), and a right of approval or consent with regard to the same matter is also granted to the Senior Lien Holder pursuant to the First Deed of Trust, the Senior Lien Holders approval or consent or failure to approve or consent, as the case may be, shall be binding on Borrower and Lender. 17. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrowers obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 16. 18. Sale of Note; Change of Loan Servicer. Subject to Section 19 below, the Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity (known as the "Loan Servicer") that collects payments due under the Note and this Security Instrument. There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 13 above and applicable law. The notice will state the name and address of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other information required by applicable law. 19. No Assignment. Until the loan secured by the First Deed of Trust has been satisfied in full, Lender and Borrower agree that the Note and the Security Instrument will not be assigned without the Senior Lien Holder's prior written consent. 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower leams, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Prior to taking any such remedial action, however, Borrower shall notify the Senior Lien Holder that such remedial action is necessary and shall obtain the Senior Lien Holder's prior written consent for such remedial action. • As used in this paragraph 20, , Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. Page 3 of 4 • 1 NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 21. Acceleration; Remedies. Lender shall give notice to Borrower and the Senior Lien Holder prior to acceleration following Borrower's breach of any • covenant or agreement in this Security Instrument. The notice shall specify: (a) the default (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower (and with respect to the Senior Lien Holder, 60 days from the date the notice is given to the Senior Lien Holder), by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non - existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured by Borrower on or before the date specified in the notice, and the Senior Lien Holder has not exercised its right to cure the default, then Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Notwithstanding Lender's right to invoke any remedies hereunder, as provided in Section 7 above, Lender agrees that it will not commence foreclosure proceedings or accept a deed in lieu of foreclosure, or exercise any other rights or remedies hereunder until it has given the Senior Lien Holder at least 60 days' prior written notice. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender or Trustee shall mail copies of a notice of sale in the manner prescribed by applicable law to Borrower, the Senior Lien Holder and to the other persons prescribed by applicable law. Trustee shall gist notice, of sale by public advertisement for the time and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder for cash at the time and place and under the terms designated in the notice of sale ig one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property to any later time on the same stme by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty, expressed or implied. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order (a) to all expenses of the sale, including, but not limited to, reasonable Trustee's and attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 12. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument without charge to Borrower. Borrower shall pay any recordation costs. 13. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. 4. Modification of First Deed of Trust Loan Documents. Lender consents to any agreement or arrangement in which the Senior Lien Holder waives, postpones, extends, reduces or modifies any provisions of the First Deed of Trust Loan Documents, including any provisions requiring the payment of money. .5. Homestead Interest Waiver. Borrower hereby relinquishes and forever releases any homestead exemptions in the Property. By signing below, each person acknowledges that he or she has read, understands, and agrees to the terms and conditions of this deed of trust, and each 1 erson acknowledges receipt of an exact copy. aest closing_da[e» • cbor_first_name» «borrower initial» «bor last name» _ oest_closing_date» <cobor first name» «coborrower initial» «cobor last name» STATE OF COLORADO ) ) ss. COUNTY OF Acknowledged, subscribed and sworn to before me on this _ day of , 20 by WITNESS MY HAND AND OFFICIAL SEAL. My commission expires:,_ Notary Public • • • Page 4 of 4 • • FEDERAL TRUTH -IN- LENDING DISCLOSURE STATEMENT (THIS IS NEITHER A CONTRACT NOR A COMMITMENT TO LEND) EnergySmart Partners LLC Energy Smart Residential Energy Efficiency Revolving Loan Fund Program • Borrower(s): «bor_first_name» «borrower_initial» «bor_last_name» Lender: EnergySmart Partners LLC acobor_first name» «coborrower_initiab> «cobor_last_ name» 214 S. College Ave.. 2"d Floor Property Address: «subject_address», Fort Collins, CO 80524 «subject_city», «subject_state» «subject_zip» Loan Number: «filename» Date: «est_closing_date» ❑ Initial Disclosure II Final Disclosure Annual Percentage Finance Charge Amount Financed Total of Payments Rate The maximum dollar The amount of credit The amount you will have paid after The cost of your credit amount the credit will cost provided to you or on your making all your payments as scheduled. as a yearly rate you. behalf. «apr»% $«Finance_Charge» $ «Amount_Financed» $ «Total_of Payments» INTEREST RATE AND PAYMENT SUMMARY Rate & Payment Interest Rate «note rate» % Principal + Interest Payment $»Monthly_Payment» Estimated Taxes + Insurance (Escrow) 80.00 ❑ Includes Private Mortgage Insurance ❑ Includes Mortgage Insurance Total Estimated Monthly Payment S«Monthly_Paymenb> ❑ FINAL BALLOON PAYMENT DUE: ❑ DEMAND FEATURE: This loan transaction has a demand feature. ❑ REQUIRED DEPOSIT: The annual percentage rate does not take into account your required deposit. ❑ VARIABLE RATE FEATURE: Your loan contains a Variable Rate feature. Disclosures about the Variable Rate feature have been provided to you separately. SECURITY' You are giving a security interest in: • ❑ The goods or property being purchased RI Real property you already own. THERE IS NO GUARANTEE THAT YOU WILL BE ABLE TO REFINANCE TO LOWER YOUR RATE AND PAYMENTS FILING FEES: $31.00 LATE CHARGE: If a payment is more than 15 days late, you will be charged 5 %. PREPAYMENT' If you pay off early, you ❑ may 0 will not have to pay a penalty. ❑ may El will not be entitled to a refund of part of the finance charge. INSURANCE: The following insurance is required to obtain credit: ❑ Credit life insurance ❑ Credit disability Ei Property insurance ❑ Flood insurance You may obtain the insurance from anyone you want that is acceptable to the creditor. ❑ If you purchase ❑ property ❑ flood insurance you will pay $ for a one year term. ASSUMPTION: Someone buying your property ❑ may ❑ may, subject to conditions ! may not assume the remainder of your loan on the original terms. See your loan documents for any additional information about nonpayment, default, any required repayment in full before the scheduled date and prepayment refunds and penalties. 0 * means an estimate all date and numerical disclosures except the late payment disclosures are estimates. You are not required to complete this agreement merely because you have received these disclosures or signed a loan application. The undersigned hereby acknowledge(s) reading and understanding all of the information disclosed above, and receiving a completed copy of this disclosure on the date indicated below. Read, acknowledged and accepted this day of Prepared By EnergySmart Partners LLC 11111 «bor_first_name» «borrower_initial» «bor_last_name» Date «cobor first name» «coborrower initial» «cobor last name» Date • 1 BORROWER CERTIFICATION EnergySmart Partners LLC believes the success of this program is wholly dependent upon the process S of providing you detailed and accurate information regarding all aspects of this transaction and financing mechanisms used to achieve your goal. We invite you to contact us directly if you feel any aspect of this agreement has not been explained to your satisfaction. Please contact: EnergySmart Partners LLC 214 S. College Avenue, 2 Floor Fort Collins, CO 80524 (970) 494 -2021 Phone (970) 494 -2022 Fax info(tifundingpartners.org We have requested that your contractor, «lender_name», help facilitate our loan process to enhance convenience for all parties. You are advised that your contractor is not affiliated with EnergySmart Partners LLC or its parent organization, Funding Partners for Housing Solutions, Inc. Your contractor does not receive compensation from EnergySmart Partners LLC for referring applicants to EnergySmart Partners LLC or in facilitating our loan application process. Your contractor does not function as a representative of EnergySmart Partners LLC and is not authorized to negotiate your loan terms or credit qualifications and is not provided access to information contained within your loan application or customer file. By signing below, you are acknowledging that the Promissory Note, Deed of Trust and Federal Truth - in- Lending Disclosure and other documents have been fully explained to you and that you understand the amount you owe, under what circumstances your loan must be paid in full and how you can contact us for further information. Dated: • «bor_first name» «borrower_ initial» «bor_last_name» «cobor_first_name» «coborrower_initial» «cobor last name» Name of Contractor Representative Signature «lender name» • • • if fi • EnergySmart Partners LLC 214 S. College Avenue, 2 Floor Fort Collins, CO 80524 (970) 494-2021 (970) 494-2022 Fax WAIVER OF LIEN AND COMPLETION OF WORK AFFIDAVIT On [date], [name of claimant] ( "Contractor "), of [address], City of [city], County of [county], State of Colorado, entered into a Construction Contract with [name of owner] ( "Borrower "), to furnish [description of labor and materials] for the work performed on property owned by [name of owner], of [property address where work was performed], the description of which is as follows: In consideration of [amount] Dollars, ($ ), receipt of which is hereby acknowledged, [claimant] hereby waives any right to claim a mechanic's hen against the above described property, or any improvements thereon, in order to secure payment for the services he has furnished under the herein mentioned contract. This waiver has been executed by [claimant] voluntarily and with full knowledge of the rights afforded under the laws of the State of Colorado. Signature Title [claimant] BORROWER RELEASE • You are hereby requested and authorized to pay the sum of $ to as a disbursement of loan proceeds under our promissory note with you dated . Such funds are to be applied to pay for labor and materials furnished under a Construction Contract with ( "Contractor ") dated Borrower hereby CERTIFYS that: (i) work is progressing on schedule and in accordance with the Construction Contract and the Plans and Specifications referred to therein; (ii) there is no default under the promissory note or the Construction Contract; and, (iii) there are sufficient undisbursed loan proceeds to complete construction in accordance with the Construction Contract and such Plan and Specifications. BORROWER: BORROWER: • • 0 NOTICE OF RIGHT OF RESCISSION This Notice relates to a consumer credit account dated «est closing_date» between EnergySmart Partners LLC and • «bor_first_name» «borrower_initial» «bor_last_name» & «cobor first_name» «coborrower_initial» «cobor_last name» (Consumer(s)). NOTICE OF RIGHT TO CANCEL Your Right to Cancel You are entering into a transaction that will result in a mortgage /lien/security interest on/in your home. You have a legal right under federal law to cancel this transaction, without cost, within three business days from whichever of the following events occurs last: (1) the date of the transaction, which is «est closing_date»; or (2) the date you receive your Truth -in- Lending disclosures; or (3) the date you received this notice of your right to cancel. If you cancel the transaction, the mortgage/lien /security interest is also cancelled. Within 20 calendar days after we receive your Notice, we must take the steps necessary to reflect the fact that the mortgage/lien/security interest on/in your home has been cancelled, and we must return to you any money or property you have given to us or to anyone else in connection with this transaction. You may keep any money or property we have given you until we have done the things mentioned above, but you must then offer to return the money or property. If it is impractical or unfair for you to retum the property, you must offer its reasonable value. You may offer to return the property at your home or at the location of the property. Money must be returned to the address below. If we do not take possession of the money or property within 20 calendar days of your offer, you may keep it without further obligation. How to Cancel If you decide to cancel this transaction, you may do so by notifying us in writing, at: EnergySmart Partners LLC, 214 S. College Avenue, 2n Floor, Fort Collins, CO 80524 You may use any written statement that is signed and dated by you and states your intention to cancel, or you may use this Notice by dating and signing below. Keep one copy of this Notice because it contains important information about your rights. • If you cancel by mail or telegram, you must send the notice no later than midnight of [ JF (or midnight of the third business day following the latest of the three events listedabove). If you send or deliver written notice to cancel some other way, it must be deliv*red to the above address no later than that time. 1 WISH TO CANCEL Date: <bor first name» «borrower initial» «bor last name» Date: «cobor first name» «coborrower initial» «cobor last name» RECEIPT Each of the undersigned acknowledges receipt of 2 copies of this Notice and warrants that the undersigned are all the p arsons who are a party to the credit account who have or may have an interest in the home at: «. ubject_address» «; ubject_city», «subject_state» «subject_zip» CSnsumer: Date: of or first name» «borrower initial» «bor last name» Date: • «pbor first name» « coborrower initial» «cobor last name» Colorado Notice of Right of Rescission • FACTS What Does EnergySmart Partners LLC Do With Your • Personal Information? Wh Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or services you have with us. This information can include: • Social Security Number and mortgage rates and payment • Payment history and transaction history • Credit history and credit scores When you are no longer our customer, we continue to share information as described in this notice. E -] All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons EnergySmart Partners LLC chooses to share; and whether you can limit this sharing. Reasons we can share your Does EnergySmart Partners Can you limit this personal information LLC share? sharing? For our everyday business purposes - Such as to process your transactions, Yes No maintain your accounts, responds to court orders and legal investigations, or report to credit bureaus. . For our marketing purposes - To offer our products and services to you N We Don't Share For joint marketing with other financial companies N We Don't Share For our affiliates' everyday business purposes — Yes No Information about your transactions and experiences For our affiliates' everyday business purposes — Yes No Information about your credit worthiness For our affiliates' to market to you No We Don't Share For our non - affiliates' to market to you No We Don't Share Questions? Call 970- 494 -2021 or go to www.fundingpartners.org Who we are Who is providing this notice? EnergySmart Partners LLC 214 S. College Ave. 2n F1r. Fort Collins, CO 80524 What we do How does EnergySmart Partners LLC To protect your personal information from unauthorized access and use, protect my personal information? we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. • How does EnergySmart Partners LLC collect my personal information? We collect your personal information, for example, when you • Apply for a loan or • Apply for financing • Pay us by check What we do Why can't I limit all sharing? Federal law gives you the right to limit only • • Sharing for affiliates' everyday business purposes — information about your creditworthiness • Affiliates from using your information to market to you • Sharing for non - affiliates to market to you State Laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law. Definitions Affiliates Companies related by common ownership or control. They can be financial and non - financial companies. EnergySmart Partners LLC shares your information for our everyday business nurooses with our affiliates. Non - Affiliates Companies not related by common ownership or control. They can be financial and non - financial companies. EnergySmart Partners LLC does not share with non - affiliates so they can market to you. Joint Ma rketing A formal agreement between non - affiliated financial companies that together market financial products are services to you. EnergySmart Partners LLC doesn't jointly market. • • if fi • EnergySmart Partners LLC 214 S. College Avenue, 2 Floor Fort Collins, CO 80524 (970) 494-2021 (970) 494-2022 Fax Energy Smart Residential Energy Efficiency Revolving Loan Fund Program E- STATEMENT ENROLLMENT FORM • New to E- Statements ❑ Change ❑ Cancel Borrower Information: «bor_first_name» «borrower_ initial» «bor_last_name» «cobor first name» «coborrower initial» «cobor last name» Property address: «subject_address» «subject_city», «subject_state» «subject_zip» Loan Number: «filename» Email Address: • (please print clearly) Alternate Email Address: (please print clearly) By signing below, I represent I agree to opt in for E- Statements from EnergySmart Partners LLC and understand my loan statements will to be emailed to me and that I have caused this Enrollment Form to be executed. AGREED TO AND ACCEPTED: Date: «bor first name» «borrower initial» «bor last name» Date: «cobor first name» «coborrower initial» «cobor last name» • I , • • I ffi • FIRST PAYMENT LETTER EnergySmart Partners LLC Energy Smart Residential Energy Efficiency Revolving Loan Fund Program EnergySmart Partners is pleased to provide the Energy Smart Residential Energy Efficiency Revolving Loan Fund Program, which allows qualified households the opportunity to make capital improvement projects to enhance the health, safety, and energy efficiency of their home! Under the terms of this oan, you are required to make regular monthly payments of principal and interest in the amount of «Monthly_Payment_initial» which are due no later than the 5 day of every month. The Loan ervicer, Funding Partners will withdraw your payment v ia ACl' withdrawal from the account you pecify on the ACH Authorization Form on the 5' day of every month beginning «first_payment». hould there be any delay setting up your account prior to the first payment date, you can use this first payment letter as a temporary payment coupon. At your request, you may be provided an amortization schedule of payments to reflect the application )f principal and interest for each payment required to satisfy your loan obligation by the maturity date if your Note. Payments will be made to: EnergySmart Partners LLC C/O Funding Partners 214 S. College Avenue, 2 ' Floor Fort Collins, CO 80524 Ref: Loan Number «filename» DO NOT MAIL CASH III hank you for your cooperation! incerely, 1 onnie Ealey I oan Programs Manager ' 70.494.2021 •onnie ( fundin • artners.or• 411 • • ' EnergySmart Partners LLC 214 S. College Avenue, 2 ' Floor Fort Collins, CO 80524 III 970.494.2021 970.494.2022 Fax www.fundingpartners.org AUTHORIZATION AGREEMENT FOR DIRECT PAYMENTS (ACH DEBIT) Company Name: EnergySmart Partners LLC I (we) hereby authorize EnergySmart Partners LLC, hereinafter called COMPANY, to initiate debit entries to my (our) [ ] Checking [ ] Savings account (select one) indicated below at the depository institution named below, hereinafter called DEPOSITORY, and to debit the same to such account in the amount of $ «Monthly_Payment_initial» Depository Name: Branch: City: State: Zip: Routing Number: Account Number: This authorization is to remain in full force and effect until COMPANY has received written notification from me (or either of us) of its termination in such time and manner as to afford COMPANY and DEPOSITORY a reasonable opportunity to act on it. Please include all names as they appear on the account to be drafted. • Name: Name: PLEASE PRINT PLEASE PRINT ' Signature: Signature: FP Loan Number: «filename» Date: PLEASE NOTE: YOU MUST ATTACH A CANCELLED CHECK (UNSIGNED) FROM THE ACCOUNT YOU WISH TO HAVE DRAFTED IN ORDER TO PROCESS THIS REQUEST. III • • LENDER STATEMENT OF ACCOUNT COMPANY ACCOUNT NO. 1200 COMPANY Partners STATEMENT DATE 2/28/2012 214 S. College Ave. 2nd Floor STATEMENT PERIOD 01/01/2012 - 02/28/2012 Fort Collins, CO 80524 PORTFOLIO BALANCE $4,262,031.08 PORTFOLIO YIELD 6.493% INTEREST PAID IN 2012 $67,839.58 LENDER Lender Name and Address Please advise us immediately of any discrepancies in the transactions or investment activity on your statement of account or if you contemplate changing your address. When making inquiries by telephone or in writing please give your account number. We urge you to keep this statement with your investment records. LOAN AGING Days Count Amount Pct Current 10 $4,039,039 94.77% 1 -30 1 $222,992 5.23% 31 - 60 0 $0 0.00% 61 -90 0 $0 0.00% 91 -120 0 $0 0.00% 121 -150 0 $0 0.00% • 151+ 0 $0 0.00% Totals 11 $4,262,031 100.00% INVESTMENT PORTFOLIO AS OF 02/28/2012 Loan Pct Interest Maturity Term Next Regular Loan Account Borrower Name Owned Rate Date Left Payment Payment Balance 100202 100.000% 6.750% 08/31/2012 6 04/05/2012 $10,800.95 $501,215.91 100501 100.000% 7.000% 06/30/2015 40 03/05/2012 $6,263.16 $1,073,685.40 100502 100.000% 6.500% 05/03/2012 3 04/05/2012 $1,649.77 $101,524.56 100902 100.000% 6.250% 03/16/2012 1 05/05/2012 $0.00 $51,472.74 110102 100.000% 6.250% 02/14/2012 0 03/05/2012 $1,721.24 $330,478.08 110103 100.000 %. 3.000% 02/14/2012 0 02/14/2012 $0.00 $222,992.00. 110104 100.000% 6.500% 11/02/2012 9 03/05/2012 $4,062.50 $750,000.00 I 110106 100.000% 6.500% 08/10/2014 30 06/05/2012 $0.00 $417,063.49 110804 100.000% 6.750% 08/11/2014 30 03/05/2012 $2,812.50 $500,000.00 110904 100.000% 6.500% 10/02/2012 8 03/05/2012 $1,194.93 $73,534.21 111204 100.000% 6.750% 12/19/2014 34 06/05/2012 $4,051.09 $240,064.69 Current Portfolio Yield: 6.493% $32,556.14 $4,262,031.08 • Powered by The Mortgage OfflceTM Page 1 of 1 Account: 1200 • • 0 0 0 0 0 0 0 0 N i of T N T 0 O O O O O O O 0 N T l 0 O O O O C) O O O o Q) T co z ' Q I O 0 O 0 0 CO W M O w a c w . 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E E E E E N N N N N N N N N N 2 C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 in O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 I' 0 a_ ao_ o_ a. ao_a. ri.aaaa. d.ad. d.aa_ aaa . daao_ad.aa X 'J ( n( ncoc ococ oc nU)c oc n( ncncn cococou )cnfncoco(n(n(nwcoco(nco (n w W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W ■IMINI■111=1111111M, • • 0 rt 2 c 0 t a) 0. 2 0) c .0 • tu" 0) c '5 as 4 E1 :5 0) - a 3 0 o f z 0 - a > 1.1.1 (-) 2 < CO CI. Z Z • • • Category Measure NmiLk tum Efficiency Requirements Air Sealing /HRV Energy Smart Assessment required Air Sealing Duct Sealing Mastic only Attic R -49 minimum total assembly Wall R -21 minimum total assembly Floor R -38 minimum; R -10 minimum slab on grade Insulation Ducts R -8 minimum Rim Joists R -21 minimum Foundation / Basement Walls R -10 minimum; interior or exterior Crawlspace Sealed floor and edge vapor barrier. R -10 minimum wall insulation High Efficiency Furnace AFUE > 92 % Heating Gas Boiler AFUE > 92 % Pellet Stove /Boiler Minimum 75% efficiency, <2 grams /hr particulate Water Heating On- Demand/Tankless Energy Factor of 0.82 or higher (Energy Star listed) Exterior windows and glass doors U -.35 maximum Doors /windows Insulating shutters or blinds R -5 minimum for shutters, R -3 for blinds Insulating exterior doors or storm doors U -.35 maximum for exterior doors All eligible measures are subject to all applicable existing regulations and permitting processes. Ancillary improvement costs may not exceed 20% of total project. This list is subject to change without notice. • 410